Kokomo Tribune; Kokomo, Indiana

Business

August 4, 2013

Business Briefs

(Continued)

Thirty-three companies from Indiana will be honored as outstanding second-stage companies during the fifth annual Indiana Companies to Watch awards program, held on August 22 in Indianapolis.

Companies to Watch is an awards program that celebrates Indiana’s privately-held second-stage companies, those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival.

Companies honored range in industries and have headquarters based in 14 counties throughout the state. Among the 33 honored companies in 2013 is Summers Plumbing Heating & Cooling.

Summers Plumbing Heating & Cooling has 11 different locations throughout Indiana, including Kokomo, and one location in Dayton, Ohio.

Chrysler income up on U.S. sales

DETROIT (AP) — Chrysler is having some growing pains.

The country’s third-largest automaker said Tuesday that its sales picked up in the second quarter thanks to strong U.S. demand for trucks and SUVs. But the company cut its target for full-year sales and profit, blaming persistent problems as it adds more shifts and ramps up production of vehicles like the Ram pickup and the Jeep Cherokee small SUV.

“You need to remember that in 2010 we produced 1 million cars. We’re now at two-and-a-half times that level,” Chrysler CEO Sergio Marchionne said in a conference call with analysts and media.

Marchionne said making sure Chrysler has enough parts from suppliers has been a problem. It’s also working out the bugs in new components. Engineers are still making adjustments to the Cherokee’s new nine-speed transmission, for example, even though the first Cherokees began rolling off the line in June.

Chrysler is also adding more workers, like the second shift of 1,100 people who will start making Cherokees next month and the 1,250 people who will start making transmissions in Kokomo, early next year.

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