You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Sony forecasts $2 billion loss, cites weak mobile
     TOKYO – Sony expects its annual loss to swell to more than $2 billion after writing down the value of its troubled mobile business as phone sales were battered by brutal competition.
  • Billionaire’s house arrest sends stocks crashing
      MOSCOW – The arrest of a Russian billionaire has sent shares in his holding company into a tailspin.
  • 2 firms to expand, add jobs
    A pair of companies will look to improve their operations with an investment of nearly $3 million combined, according to tax abatement ­requests filed last week with the city.
Advertisement
briefs

CME gets $100 million contract

Fort Wayne-based CME Corp. has been awarded a contract by Meijer to design and build a $100 million fluid milk processing dairy in Tipp City, Ohio, north of Dayton.

The 113,000-square-foot dairy facility will service 100 stores in Indiana, Ohio, Illinois and Kentucky and be built next to the existing 1.7 million-square-foot Meijer distribution center, according to media releases from the two companies.

The dairy will work with local farmers and dairy cooperatives to produce 30 million gallons of Meijer-branded milks, fruit drinks and teas per year.

The dairy will create 100 full-time positions and is expected to be completed in summer 2015.

I&M work may reduce White Swan plaza

White Swan shopping plaza, 9121 Lima Road, may shrink in size as a result of infrastructure improvements by Indiana Michigan Power.

Hanning & Bean Enterprises Inc. is negotiating with the utility as it continues its $500 million plan that primarily consists of upgrading transmission systems. Owner Bill Bean said the roughly 73,000-square-foot mall would lose up to 12,000 square feet.

Plaza anchor Do it Best hardware would not be affected, but up to four tenants would have to be relocated within the mall, he said. The plaza has 16 tenants, Bean said.

Ford, GM see rise in sales to China

Ford and General Motors reported stronger sales in China during the first half of 2014.

Ford’s China sales rose 35 percent to 549,256 vehicles this year through June, as the automaker dramatically increases its presence in the world’s largest auto market.

GM’s China sales rose 10.5 percent, to 1.7 million vehicles, more than the 1.46 million it sold in the U.S. during the same time.

For Ford, whose sales also increased 17 percent in June, the results are an encouraging sign for a company that it is beginning to catch up with GM and Volkswagen in China.

Although increasing at a slower pace than Ford, GM’s strong position in China remains one of its biggest assets. The company sold 19 percent more vehicles in China than it did in the U.S. in the first half of 2014.

Foreign auto companies are required to partner with Chinese manufacturers through joint ventures to make cars there. Although that means splitting profits 50-50, it’s still a crucial market for the U.S. auto industry.

Jack Daniel opens barrel-making plant

The maker of Jack Daniel’s Tennessee Whiskey on Monday celebrated the opening of a new cooperage in Alabama to supply its distillery with the American white oak barrels that are toasted and charred to give the spirit its distinctive flavor and color.

The plant in Trinity, Alabama, is about 60 miles southwest of the Jack Daniel distillery in Lynchburg, Tennessee. Within the next few weeks, the cooperage is expected to make about 700 barrels per day out of wood from nearby stave mills owned by the company, and is projected to employ more than 200 workers when it reaches full capacity.

U.S. sales volume for bourbon and Tennessee whiskeys has grown 26 percent over the past decade, according to the Distilled Spirits Council.

Exports of U.S. whiskeys have grown to roughly $1 billion last year, more than double what it was a decade ago.

Advertisement