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Category: Regional News
Warm weather cuts into NiSource profits
MERRILLVILLE – NiSource Inc., the parent company for Northern Indiana Public Service Co., has announced first quarter net income of $193.4 million, down 7.7 percent from $209.5 million last year.
The decline was attributed to unseasonably warm weather during the first quarter.
Residential gas use was down 23.5 percent, corresponding to 23 percent warmer than normal temperature in the quarter.
At NIPSCO, net …
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Posted in Business News Bits, Earnings, Energy, NIPSCO, Regional News, Utilities
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Centier’s 1st quarter profit doubles
MERRILLVILLE – Centier Bank has announced net income in the first quarter of $5.7 million, up from $2.8 million one year ago.
The bank reported $2.15 billion in assets, up 4.4 percent from last year.
Centier also announced $2 million was set aside in the first quarter to cover loan losses, compared with $6 million one year ago.
…
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Posted in Banking, Business News Bits, Earnings, Regional News
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Korellis Roofing honored by Firestone
HAMMOND – Firestone Building Products has named Korellis Roofing Inc. of Hammond as the 2012 winner of its Master Contractor Award.
Korellis ranks among the top 256 commercial roofing contractors of more than 3,000 licensed by Firestone. In addition, Korellis is among 170 to receive Firestone’s Inner Circle of Quality Award.
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Read Full ArticleArcelor Mittal completes $60 million project
BURNS HARBOR – Arcelor Mittal has completed a $60 million upgrade of its 160-inch plate mill at Burns Harbor. The new heat-treat line will help make the mill a leader in steel production, said John Mengel, chief operating officer.
With the upgrade, steel can be produced quicker and with higher quality, said Mengel. The project included a new level, which will reduce the stress on …
Read Full ArticleMCEDC honors companies for investment
MICHIGAN CITY – The Michigan City Economic Development Corp. held its 2012 Business Investment Awards Celebration recently at Blue Chip Casino Hotel and Spa. The event is held every two years to recognize local companies who have made substantial financial investments the previous two years.
“Staying in business is one of the greatest accomplishments most companies can claim and we wanted to recognize those …
Read Full ArticleNew Carbon sold to PNC Riverarch Capital
SOUTH BEND – New Carbon Inc., which provides waffle and pancake mix to restaurants and hotels across the country, has sold a controlling interest of the business to PNC Riverarch Capital of Pittsburgh.
New Carbon was founded in 1937 and serves more than 40,000 customers in North America. Last year, the company has $30 million in sales.
PNC Riverarch Capital is part of PNC …
Read Full ArticleIV Diagnostics promotes region innovation
HAMMOND – The Pride and Pedestal event at the Indiana Welcome Center recognized innovation in Northwest Indiana. The event was hosted by IV Diagnostics Inc. of Valparaiso and the Society of Innovators of Northwest Indiana.
IV Diagnostics CEO Frank Szczepanski said there is opportunity to make the region a center for advanced cancer research. The company is supporting the non-profit group The Foundation for …
Read Full ArticleMaria Fruth receives ABA’s Liberty Bell Award
LAPORTE – LaPorte Hospital Foundation head Maria Fruth recently received the Liberty Bell Award from the American Bar Association.
The award recognizes community service and a commitment to the legal community, promotion of a better understanding of the law, and encouraging greater respect for the law and courts.
“We are so very proud of the way Maria has led the Foundation over the past …
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Posted in Business News Bits, Legal, Recognition, Regional News
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PNC students tops in engineering competition
WESTVILLE – A team of Purdue University North Central students recently earned first place in the American Society of Mechanical Engineers Student Design Competition, earning a spot in the upcoming international competition.
The team, PNC Elite, was first among 26 teams representing colleges and universities from 13 Midwest states.
Team members are Pat Jarosak, Chesterton; Elizabeth Bennett, Hebron; James Morton, Chesterton; and Ben Kienzynski, Chesterton.…
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Posted in Business News Bits, Education, Engineering, Purdue, Recognition, Regional News
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Legacy Foundation hosts non-profit town hall
MERRILLVILLE – Legacy Foundation recently held a town hall discussion with more than 100 representatives from area non-profits to discuss new resources and tools available through the foundation.
“Legacy Foundation has been granting funds into the community and building partnerships with area nonprofits for 20 years,” said Harry J. Vande Velde III, president and CEO. “We are proud to bring the area’s nonprofit sector the …
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