If a plant in our supply chain changes from a joint venture to a single-company owner, do we know which of our incentive, tax, or supply agreements were written against the original partner rather than the surviving owner?

Samsung SDI's takeover of the New Carlisle plant shows those terms do not automatically transfer. St. Joseph County is renegotiating its incentive package now that Samsung SDI alone holds the asset, so any agreement tied to the old GM-Samsung joint venture needs a fresh look.

Do our Tier 2 or Tier 3 suppliers have the cash reserves to front equipment costs under a reimbursement-only grant, or does ADAPT's structure exclude exactly the suppliers least able to absorb that upfront cost?

ADAPT pays only after a supplier has already spent the money, which favors firms with existing credit lines and effectively caps project size near $2 million, well under what EV-grade retooling costs most suppliers.

Could we end up paying AES Indiana's $71 million rate increase in full before the March 2027 rehearing decides how much of it gets refunded?

Yes. The IURC already approved the increase and billing continues while the BlackRock acquisition and Google data center costs are reviewed, so any refund ordered at the March 2027 hearing would arrive after months of higher bills, not before.

If Lippert ends up under Monomoy and Thetford ownership instead of merging with Patrick, how does that change who controls pricing and terms for our RV or recreation products components in the Elkhart corridor?

Monomoy already owns Thetford, so a successful bid would put a major components supplier inside a private equity-controlled roll-up rather than the publicly traded, Elkhart-headquartered combination Patrick and LCI have planned, changing who sets pricing and terms for that supply base.

Manufacturing News TEG Daily

October 28, 2026 · St. Joseph · Marion · Elkhart · AES INDIANA

AES Indiana's BlackRock Buyout Rate Case, Samsung SDI's New Carlisle Takeover, and the Patrick-LCI Bid War: What Indiana Manufacturers Need to Track This Week

AES Indiana's BlackRock buyout rate case, Samsung SDI's ownership change, a new ADAPT grant, and jobs data Indiana manufacturers need to track this week.

Daniel BurkePublished every day

Samsung SDI's full takeover of the New Carlisle battery plant, AES Indiana's pending sale to a BlackRock-led consortium, and a private equity bid for Elkhart's LCI Industries all landed this week, and each one rewrites an incentive, rate, or supply agreement an Indiana manufacturer already signed. The AES Indiana BlackRock buyout rate case now sits inside the same regulatory proceeding as a $71 million rate increase and a 390 megawatt Google data center, so the bill an industrial customer pays this winter could be set months before regulators decide who actually owes it. Indiana's unemployment rate also rose for the first time in more than a year even as manufacturing added jobs, and a new $10.79 million state grant program opened for auto suppliers racing to retool before Michigan's suppliers pull further ahead.

01St. Joseph

Samsung SDI's New Carlisle Takeover Reopens St. Joseph County's Incentive Deal

Samsung SDI has acquired General Motors' ownership stake in the $3.5 billion battery plant under construction in New Carlisle, making the site the company's first wholly owned battery production plant in North America. GM and Samsung SDI separately signed a joint development agreement on prismatic battery cells, so GM keeps a technology seat at the table even after stepping back from ownership.

For the huddle: If a plant in our own supply chain shifted from a joint-venture ownership structure to single-company ownership, do we know which of our incentive, tax, or supply agreements were written against the JV partner rather than the surviving owner?

SourcesSamsung EV Battery Plant Will Move Forward, County Waits For Update (shattered.io)

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02Statewide

Indiana's $10.79 Million ADAPT Grant Opens for Auto Suppliers, Behind Michigan's Head Start

Governor Mike Braun announced the Automotive Diversification and Production Transition program, a $10.79 million grant pool funded by a U.S. Department of Energy award, aimed at roughly 320 small and mid-sized Indiana auto suppliers still concentrated in internal combustion engine components. Grants run from $100,000 to $1 million and require a dollar-for-dollar match from the company, with reimbursement paid only after the supplier has already spent the money on equipment, software, or training.

For the huddle: Do our Tier 2/Tier 3 suppliers have the cash reserves or credit lines to front equipment costs under a reimbursement-only grant, or are the suppliers most exposed to the ICE-to-EV transition exactly the ones ADAPT's structure will exclude?

SourcesIndiana launches $10.79 million grant program for automotive suppliers (wowo.com)

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03Marion

AES Indiana's BlackRock Buyout Rate Case Heads to a March Rehearing

AES Corporation, parent of AES Indiana, has agreed to a $33.4 billion sale to a consortium led by BlackRock's Global Infrastructure Partners and Sweden's EQT Infrastructure, with CalPERS holding a 20 percent stake and the Qatar Investment Authority holding 10 percent. The deal is expected to close in late 2026 or early 2027.

For the huddle: If AES Indiana's rate base expands to serve Google's 390 MW Morgan County data center, how exposed is our facility to industrial rate increases tied to that buildout before the rehearing resolves who actually pays for it?

SourcesBlackRock, Swedish Investment Giant and Qatar Fund Set to Control Indianapolis Electric Utility in $33.4 Billion Deal (hoosierenquirer.com)

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04Statewide

Indiana Unemployment Ticks to 3.4% as Manufacturing Adds 3,500 Jobs

Indiana's seasonally adjusted unemployment rate rose to 3.4 percent in September, up from 3.3 percent, the first increase since August 2024. The state still added 3,200 private sector jobs overall, with manufacturing employment up 3,500 and private education and health services up 3,700.

For the huddle: Given that postings are up 27% while hires stagnate, where specifically is our own open-requisition-to-filled-seat conversion rate breaking down, and is it a wage, skills, or process problem?

SourcesIndiana September 2026 Employment Report (giant.fm)

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Questions for your morning huddle

This brief

Samsung SDI's New Carlisle Takeover Reopens St. Joseph County's Incentive Deal

Indiana's $10.79 Million ADAPT Grant Opens for Auto Suppliers, Behind Michigan's Head Start

AES Indiana's BlackRock Buyout Rate Case Heads to a March Rehearing

Indiana Unemployment Ticks to 3.4% as Manufacturing Adds 3,500 Jobs

Patrick Industries Reaffirms LCI Merger Against Monomoy's $101-a-Share Bid

Questions for your morning huddle