Tsunami still rippling at FCC

FCC Indiana announced another reduction in staffing as the company continues to attempt to rebound from the Japan earthquake, which interrupted supply for the auto-parts producer.
FCC announced in a press release that it will temporarily lay off some workers, reducing the first shift to “nearly full” and working with a “limited” second shift.
The company expects to see significant recovery in August and has planned for new equipment investments totaling $20 million, which should help sustain future business.

Moving HQ
Franklin Electric, an international firm that provides water and fueling systems, is moving its headquarters from Wells to Allen County. The company is moving to a 102-acre site owned by the Fort Wayne International Airport.

Insuring crops
The Risk Management Agency of Illinois, Indiana, Michigan and Ohio announced that producers are still eligible for prevented planting an acreage where the cover crop was not timely terminated. The statements are relevant to insuring a spring crop following a small grain crop that has reached the headed stage.
Producers have until July 15 to request a written agreement through their agent.

Concrete award
The Muensterberg Plaza and Clock Tower in Berne was recognized as an “Outstanding Achievement in Concrete” by the Indiana chapter of the American Concrete Institute.
The clock tower was named one of 10 outstanding projects for 2010. The award was presented to the architectural firm from Indianapolis that designed the clock tower, Rees Associates Inc.

Arby’s sold
Wendy’s/Arby’s group announced Monday that it will sell a majority stake in its Arby’s brand to Roark Capital Group. Wendey’s/Arby’s CEO Roland Smith said the pairing of the two companies in 2008 had not been a failure.
Roark, which owns Moe’s Southwest Grill, Cinnabon and other restaurants, will pay $190 million in cash or an 81.5 percent stake in Arby’s, and assume $190 million worth of Arby’s debt.

Explosion
A fire broke out Monday afternoon at Hartford Iron & Metal Inc., 711 W. Washington St., Hartford City. Hartford City Fire Department arrived at the scene at 3:50 p.m. No one was injured. It was not clear what caused the fire or an explosion that was heard from several miles away.

Blackford investments
Four companies from Blackford County plan on investing more than $11.5 million this year. The investments come from 3M, Petoskey Plastics, Hartform City Quality Pallet and healthcare provider Hearts with Integrity.
This amount is double from local businesses in 2010 and 2009.The Hartford City Council granted the four companies tax abatements in their investments.

VP named
Alleghney Technologies Incorporated announced that Gary Vroman has been named executive vice president. Vroman was president and chief executive officer of Ladish prior to ATI’s acquisition of Ladish Co.
ATI is one of the largest metals producer in the world with revenues of approximately $4.8 billion for the past 12 months.

Food donated
Tyson Food donated food with a retail value of $25,000 Tuesday as part of the “Lend a Hand” charity tour sponsored by NBC’s today show. The food was given to the culinary Academy of Las Vegas, a non-profit organization that provides training and jobs for low-income people. The company also initiated the KNOW Hunger campaign earlier this month in an effort to help raise awareness of hunger in the U.S.

Investment
POET chairman and CEO Jeff Broin said the ethanol Volumetric Ethanol Tax Credit is responsible for the building of successful renewable energy in the county in the past ten years, following a vote to preserve the tax credit.
He advised making a transition away from the use of the tax credit and make a short-term investment, like the expansion of flex pumps and dedicated ethanol pipelines, to create a competitive market between ethanol and gasoline.

Wal-Mart concerns
A new organization composed of hundreds of Wal-Mart Stores Inc. workers was expected to gather at the company’s headquarters in Bentonville, Ark., Thursday to demand that management pay attention to their concerns.
The group was initiated online, with members logging onto social media to discuss their concerns. While Wal-Mart has agreed to work in labor unions in other countries, it has opposed unionization, especially in the U.S.

China venture
IU Health will seek inroads into China after launching University Health Management to consult with three hospitals in Zheijang province near Shanghai.
The group will scout the opportunity to see if sustainable cash flow could be generated from a venture in the world’s No. 2 economy.
The move could potentially lead to increases in staff in China hospitals as well as reduction in hospital stays if University Health were to become involved.
Ball Memorial Hospital, Muncie, is part of the IU Health network.

Manufacturing grade
Ball State Center for Business and Economic Research recently released its 2011 Manufacturing and Logistics Report Card, receiving some A scores, while getting C grades in most other areas.
The state received grades of A in manufacturing, tax climate, global reach and logistics, while getting a C+ in productivity, C’s in human capital and diversification, and C- scores for benefit costs and venture capital.
Manufacturing in the state has rebounded quicker after the national recession in Indiana faster than in other states, CBER director Michael Hicks said.[[In-content Ad]]