Ex-Cohesant plant to close, idling 55 workers

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	Friday, May 9, 2008
	Ex-Cohesant plant to close, idling 55 workers An Indianapolis plant that makes equipment to spray polyurethane on boats, water towers and other objects will close by the end of the year, its new owner says. Fifty-five workers will lose their jobs at the northwest-side GlassCraft plant, which was owned by Indianapolis-based Cohesant Technologies Inc. until the company was acquired in December by Graco Inc. of Minneapolis.   Delta Faucet axes workers, again Delta Faucet Co. laid off another 95 workers from its Greensburg plant yesterday, the company's third round of cuts this year, according to the Greensburg Daily News. The Carmel-based company idled the same number of workers in mid-March. The new cuts will leave about 567 workers employed at the Greensburg facility. The cuts have been blamed on weak sales linked to the sluggish housing market. Delta is owned by Michigan-based Masco Corp.
	Biotech company buys vacant Terre Haute plant ChemGen Corp., a biotechnology company based in Maryland, has bought a long-empty manufacturing plant in Terre Haute, according to the Terre Haute Economic Development Corp. ChemGen makes a natural feed additive that helps chickens, turkeys and pigs digest food. It expects to hire up to 20 people and begin operating in the plant by the end of the year.   State to help employees buy out companies A program rolled out yesterday by State Treasurer Richard Mourdock aims to encourage more Indiana business owners to sell companies to their employees. The Treasurer's Office will subsidize banks for loans used in transitions to employee stock ownership plans, or ESOPs. Taxpayers will more than recoup the program's annual cost of $500,000 a year because of the tendency of ESOP companies to stay in the state and not outsource work overseas, Mourdock said.   Warsaw part of Menards experiment Home improvement giant Menards has chosen the northern Indiana city of Warsaw along with Urbana, Ill., as the next places to roll out an expansion into developing residential subdivisions. Menards, headquartered in Eau Claire, Wis., already has built houses in Yorkville, Ill. Now it's looking for new projects around its existing stores, said Jamie Radabaugh, director of sales and leasing for the company's property division.   Correction A story in yesterday's IBJ Daily about the sale of an ethanol plant incorrectly said British entrepreneur Richard Branson partly owned the plant. Branson sold his interest about a month ago. 'Wicked,' 'Ave. Q' & ... 'Happy Days'? Broadway in Indianapolis has been varied, professional. Lou Harry's A&E Good news on a Friday Indiana workers are an accomplished lot. NewsTalk May in Indy creates strange bedfellows Roger Penske is Paul Tracy's last shot. The Score
	Downtown restaurant buzz Several restaurants are stirring things up. Property Lines From IBJ staff - Compiled by Norm Heikens 32 kids deliver 32 bids Thirty-two central Indiana students hand-picked by school superintendents are departing today to hand-deliver Indianapolis' bid to host the 2012 Super Bowl to team owners in the 32 NFL cities. Last year, Indianapolis lost the 2011 Super Bowl bid to Dallas. This year, Indianapolis is competing against Houston and Phoenix to host the game. NFL owners will decide on the host city when they meet later this month in Atlanta. FOX 59 will have more at 10 p.m. Cars get last chance to practice at IMS It's Fast Friday at the Indianapolis Motor Speedway, the last day of practice before pole qualifying this weekend. Marco Andretti this week set the fastest time for a practice lap at 226.599 mph. Weather permitting, practice will run from noon to 6 p.m. Admission is $5.
	Police probe fatal shooting on 38th Street Metro police are investigating a deadly shooting late yesterday in the 3000 block of East 38th Street. Officers were called to the area after a report of gunshots. They followed a blood trail to the victim, 40-year-old Michael Smith of Evansville. Police have no suspects. What do you think is the most important characteristic a leader should have?
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