Tonight: Mostly clear. L 53. Tomorrow:
Partly sunny with scattered afternoon
T-storms. H 78.
TUESDAY, 5/2/06
Dallas firm negotiating to build
ethanol plant near Tipton
Dallas-based ASAlliances Biofuels LLC might build a $125
million ethanol production plant next to a grain
elevator in Tipton. The ethanol plant would employ 60
and could produce 100 million gallons of ethanol and
315,000 tons of dry distillers grain a year. Including
the proposed Tipton plant, Indiana has six ethanol
facilities either completed or in planning stages. Most
of the plants are or will be in east-central Indiana,
raising the question of whether one region can support
that many plants.
Safeco division acquired by Assurant
Safeco Financial Institution Solutions Inc., a division
of Seattle-based Safeco Corp. that employs 150 in
Indianapolis, has been acquired by New York-based
Assurant Inc. No word was given on any effect to the
local operations, but Assurant said in a release
that integration of the Safeco FIS
operations into Assurant will begin immediately.
Financial terms were not disclosed. Other Safeco
Indianapolis operations were not included in the deal.
Safeco FIS provides creditor-placed homeowners
insurance. Assurant is a specialized insurance product
provider.
Indiana manufacturing employment falls less than in
neighboring states
Indiana lost 6,711 manufacturing jobs last year,
according to the 2006 Indiana Manufacturers Directory,
published annually by Manufacturers News Inc. Indiana
has 11,625 manufacturers that employ 701,005 workers,
ranking it 11th in the nation by number of manufacturers
and eighth in the U.S. by employment. Indianapolis is
the state's industrial leader with 1,491 plants.
According to MNI's 10-year study, Indiana lost more than
40,000 industrial jobs between 2001 and 2006. The number
of jobs lost was twice the number of jobs gained in the
five preceding years. Indiana's 1-percent job loss last
year is less than its neighbors. Illinois' manufacturing
employment fell 3 percent while Ohio's dropped by 2.7
percent.
Adesa reports higher profit, revenue
Carmel-based Adesa Inc. reported first-quarter profit of
$36.3 million, or 40 cents a share, on revenue of $285.6
million, compared with profit of $35 million, or 38
cents a share, on $242.7 million in revenue in last
year's first quarter. Adesa said the results include a
$2.7 million charge related to balance-sheet differences
concealed by a former employee of an Ontario facility.
Adesa is a wholesale vehicle auction firm and also
provides dealer financing. It has 91 auction sites and
85 loan production offices. Yesterday, Adesa announced
it had hired Angel Rodolfo Sales as president and chief
operating officer.
Egix
Makes Third Acquisition Since January Carmel-based Egix Inc. has acquired
Bloomington-based Kiva Networking for an undisclosed
amount. Egix is a telecommunications technology
provider. Kiva is a technology and Internet services
provider. Formed in 1988, Egix is the second-largest
dial-up Internet access provider and the sixth-largest
dedicated Internet access provider in the Indianapolis
area, according to IBJ research. In January, Egix
acquired Noblesville-based Internet services provider
iLectis Inc. for an undisclosed sum. Egix also acquired
the assets of Indianapolis-based CTI Group's Xila
Communications LLC in January.
Restructuring reverses Visteon loss
Visteon Corp. today reported first-quarter profit of $3
million, or 2 cents a share, reversing a loss of $163
million, or $1.30 a share, in the same period a year
ago. Revenue in the quarter fell 41 percent, to $3
billion, from $5 billion last year. Visteon attributed
the revenue decline primarily to the shifting of 23
Visteon facilities to Automotive Components Holdings
LLC, a division of Ford Motor Co. that took over the
Visteon facilities last October. The facilities shifted
to the Ford entity included Visteon's Indianapolis
plant, which employs 2,200 on the east side. Visteon
kept eight plants, including factories in Bedford and
Connersville. Ford Motor Co. spun off Visteon in 2000.
Charlestown hospital sold to Pennsylvania firm
Medical Center of Southern Indiana, a 96-bed hospital in
Charlestown, has been sold to Saint Catherine Healthcare
LLC in Pennsylvania for an undisclosed amount. The
hospital was one of two sold by Tennessee-based
LifePoint Hospitals Inc.
ACL to build barges for New Jersey marine terminals
Jeffersonville-based American Commercial Lines Inc. has
been awarded a $30-million, multi-year contract to build
ocean-tank barges for Statia Terminals New Jersey Inc.,
a division of San Antonio-based Valero LP. The barges
will be built at ACL's Jeffersonville shipbuilding
facility, Jeffboat LLC. Valero is a terminal and
independent petroleum liquids pipeline operator.
TOP 25 LISTS IN THIS WEEK'S
INDIANAPOLIS BUSINESS JOURNAL
Largest Indianapolis-Area Permanent Employment Agencies
Largest Indianapolis-Area Commercial Printers
From IBJ staff and Bloomberg News--Edited by
Tracy Donhardt
STORIES FROM THIS WEEK'S IBJ
Emmis fights radio doubt Stock of locally based Emmis Communications Corp.
has fallen 80 percent in six years and revenue is
falling short of analysts' expectations, but CEO Jeff
Smulyan is still bullish on radio, Emmis' primary
business.
Cleveland tech firm going west
Parker Hannifin Corp. is vacating its Intech Park space
and moving its local operation to California after
failing to deliver the number of new jobs it promised to
get local tax incentives.
Land likely drove Marsh sale
Florida-based Sun Capital Partners' planned purchase of
the struggling Marsh Supermarkets Inc. chain was likely
driven by the value of Marsh's real estate holdings.
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Primary election taking place today
Voters are heading to the polls for the statewide
primary election today, and for the first time they'll
need photo identification to vote. Polls will be open
until 6 p.m. Voters must have identification issued by
the federal government or the state of Indiana. The ID
must have an expiration date and photo. News 8 will have
updates at 5 p.m. and 6 p.m.
Amber Alert for girl issued today
An Amber Alert has been issued for a 14-year-old girl
police say was abducted by her stepmother. The Knox
County Sheriff's Department said Anita Hernandez, 45,
took Perla Hernandez from a home in Wheatland. Officers
believe the woman may be taking the girl to Mexico in a
tan 2006 Nissan Maxima.
Tree falling kills driver in bizarre accident
An unusual accident on the city's northwest side killed
a driver this morning. Marion County sheriff's deputies
said a tree fell on top of a van killing the driver
around 6 a.m. on Traders Hollow Lane. Investigators do
not know what caused the tree to fall.
