Instrumental Machine & Development, a Warsaw-based supplier of specialized orthopedic instrumentation, sterilization trays and accessories, Tuesday announced plans to expand its Warsaw facility and add up to 34 jobs by 2022.
“Today's announcement is about adding the people, equipment and floor space we need to grow alongside our nationwide customers,” President Todd Speicher said.
Founded in 1991, IMD moved into its, 36,000-square-foot location in 2005. This project will add more than 26,000 square feet. IMD employs 98 and supports clients nationwide with specialized design, development and manufacturing capabilities, with an emphasis on custom instrumentation.
The Indiana Economic Development Corp. has offered IMD up to $230,000 conditional tax credits based on job creation plans. The Warsaw Common Council approved phase-in of property taxes on real and personal property at the request of the Kosciusko Economic Development Corp.
Nissan names head of China unit CEO
Nissan has tapped the head of its China business, Makoto Uchida, as its new president and chief executive, to help lead a recovery from the leadership crisis and sinking profitability that followed the arrest of former chairman Carlos Ghosn last year.
Uchida is replacing Hiroto Saikawa, who resigned after acknowledging receiving dubious income.
The Japanese automaker announced Uchida's appointment late Tuesday in a hastily called half-hour news conference. It has repeatedly promised to turn around Nissan and strengthen its corporate governance.
Uchida, a senior vice president, is now president of Dongfeng Motor Co., Nissan's China unit. He did not appear before reporters.
Toys R Us site reboot gets Target boost
The parent company of Toys R Us is turning to a key rival to restart its e-commerce business ahead of the holiday shopping season.
Tru Kids Brands is teaming up with Target Corp. to relaunch Toysrus.com, according to a joint release.
The site, which launched Tuesday, features product reviews and videos and directs browsers to a buy button at Target.com to complete the purchase.
Target and Tru Kids declined to share details of the financial terms. But while analysts say the move is a big win for Target's toy business, they question why Tru Kids would decide to outsource e-commerce to a third party.
The move comes as the first two new Toys R Us stores – one in Houston, the other in Paramus, New Jersey – will open in November as part of a small comeback of the defunct iconic toy chain in the U.S. Target.com will also handle online sales in those two stores.
Producer prices fall 0.3% in September
U.S. producer prices fell in September, another sign that inflation remains tame more than 10 years into America's economic expansion.
The Labor Department says its producer price index, which measures inflation before it reaches consumers, fell 0.3% last month, the first drop since June and the biggest since January. Even core wholesale prices, which exclude volatile food and energy prices, tumbled 0.3%.
Falling prices ranged from clothing to machinery.