July 23, 2014 at 2:10 p.m.
Franklin Electric bought by Cleveland firm (12/17/06)
Business roundup
After 62 years in Bluffton as a keystone in Wells County's economic landscape, Franklin Electric's Bluffton plant has been sold to a private equity firm from Cleveland, which will now operate the plant as Bluffton Motor Works.
Franklin Electric officials said this week that the company's engineered motor products division has been sold to Capital Works, LLC.
The terms of the asset sale were not disclosed.
The sale includes the physical campus at 400 E. Spring St., in Bluffton. At least in the immediate future Franklin Electric will lease their headquarters from the new owners, but Franklin Electric chairman and CEO R. Scott Trumbull foresees moving the corporate offices to a new facility the company hopes to develop to expand research and development labs.
Franklin Electric's EMPD division manufactures and sells fractional horsepower motors for primarily original equipment manufacturers for many diverse, specialty applications such as soft serve ice cream dispensers, bowling pin setters and ball return systems, paint mixing machines, and food service applications.
John M. Mueller, president of Capital Works, LLC, said, "The Capital Works team looks forward to working with EMPD management to increase the growth rate and the profitability of the business."
Not leaving
Aldi Inc. has decided to remain in Winchester.
Aldi district vice president, Laura Bauer, said last week she is excited about the decision to stay in the Winchester market.
She said the previous decision to close the store was based on market analysis.
Bauer said Aldi is looking for opportunities to promote the shopping experience it wants to provide for customers including expanding the local store to provide fresh meat and create more room to offer items the local store hasn't been able to provide due to space limitation.
The store has been at the Winchester location for 20 years.
Store closes
CVS Pharmacy has acquired and closed the only existing pharmacy in Montpelier.
A spokesperson for CVS said that existing customer records from Ely Pharmacy will be automatically transferred to the CVS Pharmacy location at 1700 N. Walnut St., Hartford City, The Star Press (Muncie) reported.
CVS purchased the Ely Pharmacy business, but not the real estate at 206 S. Main St. in Montpelier.
Named new chancellor
Ivy Tech Community College's board of trustees has named Gail Chesterfield chancellor for the East Central region, which serves a seven-county area with campuses in Anderson, Marion, and Muncie. Chesterfield, who has been with the college and the East Central Region for the past 26 years, succeeds Rob Jeffs, who left the region to become vice-president for Workforce and Economic Development for the college.
As chancellor, Chesterfield will oversee the region's three campuses as well as outreach operations in New Castle, Portland, Winchester, Hartford City, Pendleton and Elwood with a total enrollment of close to 6,000 students and more than 600 staff and faculty.
Prior to her appointment as chancellor, Chesterfield was acting chancellor for the region, a position she held since October 2005.
Myers inducted
David Myers, Decatur, was inducted into the Indiana Auctioneers Association Hall of Fame during the 2006 IAA annual convention in Fort Wayne.
A graduate of the Reppert School of Auctioneering in 1981, Myers has been in the auctioneering business since his initial graduation. He owns and operates Town and Country Auctioneers/Realtors located in Decatur.
He works the Topeka Draft Horse and Carriage auctions, where he has sold horse drawn farm equipment for 18 years.
Employee hired
(mug shot available)
Linc Rinkenberger, a graduate of Bluffton High School, has joined the sales staff at Troxel Equipment Co. in Bluffton.
Rinkenberger, who has been in sales of post-frame buildings for the past eight years, lives in Wells County with wife Katrina and seven children.
Bancorp changes
Old National Bancorp announced this week the appointment of Barbara Murphy as chief banking officer and the promotion of Candice Rickard as the chief risk officer.
There is an Old National branch in Portland.
Murphy, formerly chief risk officer, will assume a newly created position as the chief banking officer. She will oversee all Old National banking operations.
Rickard will assume Murphy's role as the chief risk officer and will be responsible for the development and implementation of an enterprise-wide risk management system across all lines of business.[[In-content Ad]]
Franklin Electric officials said this week that the company's engineered motor products division has been sold to Capital Works, LLC.
The terms of the asset sale were not disclosed.
The sale includes the physical campus at 400 E. Spring St., in Bluffton. At least in the immediate future Franklin Electric will lease their headquarters from the new owners, but Franklin Electric chairman and CEO R. Scott Trumbull foresees moving the corporate offices to a new facility the company hopes to develop to expand research and development labs.
Franklin Electric's EMPD division manufactures and sells fractional horsepower motors for primarily original equipment manufacturers for many diverse, specialty applications such as soft serve ice cream dispensers, bowling pin setters and ball return systems, paint mixing machines, and food service applications.
John M. Mueller, president of Capital Works, LLC, said, "The Capital Works team looks forward to working with EMPD management to increase the growth rate and the profitability of the business."
Not leaving
Aldi Inc. has decided to remain in Winchester.
Aldi district vice president, Laura Bauer, said last week she is excited about the decision to stay in the Winchester market.
She said the previous decision to close the store was based on market analysis.
Bauer said Aldi is looking for opportunities to promote the shopping experience it wants to provide for customers including expanding the local store to provide fresh meat and create more room to offer items the local store hasn't been able to provide due to space limitation.
The store has been at the Winchester location for 20 years.
Store closes
CVS Pharmacy has acquired and closed the only existing pharmacy in Montpelier.
A spokesperson for CVS said that existing customer records from Ely Pharmacy will be automatically transferred to the CVS Pharmacy location at 1700 N. Walnut St., Hartford City, The Star Press (Muncie) reported.
CVS purchased the Ely Pharmacy business, but not the real estate at 206 S. Main St. in Montpelier.
Named new chancellor
Ivy Tech Community College's board of trustees has named Gail Chesterfield chancellor for the East Central region, which serves a seven-county area with campuses in Anderson, Marion, and Muncie. Chesterfield, who has been with the college and the East Central Region for the past 26 years, succeeds Rob Jeffs, who left the region to become vice-president for Workforce and Economic Development for the college.
As chancellor, Chesterfield will oversee the region's three campuses as well as outreach operations in New Castle, Portland, Winchester, Hartford City, Pendleton and Elwood with a total enrollment of close to 6,000 students and more than 600 staff and faculty.
Prior to her appointment as chancellor, Chesterfield was acting chancellor for the region, a position she held since October 2005.
Myers inducted
David Myers, Decatur, was inducted into the Indiana Auctioneers Association Hall of Fame during the 2006 IAA annual convention in Fort Wayne.
A graduate of the Reppert School of Auctioneering in 1981, Myers has been in the auctioneering business since his initial graduation. He owns and operates Town and Country Auctioneers/Realtors located in Decatur.
He works the Topeka Draft Horse and Carriage auctions, where he has sold horse drawn farm equipment for 18 years.
Employee hired
(mug shot available)
Linc Rinkenberger, a graduate of Bluffton High School, has joined the sales staff at Troxel Equipment Co. in Bluffton.
Rinkenberger, who has been in sales of post-frame buildings for the past eight years, lives in Wells County with wife Katrina and seven children.
Bancorp changes
Old National Bancorp announced this week the appointment of Barbara Murphy as chief banking officer and the promotion of Candice Rickard as the chief risk officer.
There is an Old National branch in Portland.
Murphy, formerly chief risk officer, will assume a newly created position as the chief banking officer. She will oversee all Old National banking operations.
Rickard will assume Murphy's role as the chief risk officer and will be responsible for the development and implementation of an enterprise-wide risk management system across all lines of business.[[In-content Ad]]
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