Delphi Automotive plans to construct an engineering lab building as part of a $25 million project in central Indiana.
The company says the lab will be built next to its Delphi Electronics & Safety corporate technology center in Kokomo. Delphi vice president Jeff Owens says the lab and a smaller utility building will help consolidate all of its 1,400 employees in the city.
Construction is expected to start this year and be completed by the end of 2011.
Company spokeswoman Linda Ferries says the expansion won’t result in any immediate hiring.
HP to pay $55 million on kickback claims
The Department of Justice says Hewlett-Packard has agreed to pay $55 million to settle claims it paid kickbacks to companies so that they would recommend its products to federal agencies.
Hewlett-Packard Co. has already announced earlier this month it will take a charge of 2 cents per share in the third quarter to settle the claims. The Justice Department gave the full settlement amount in a statement Monday.
HP has denied engaging in any illegal conduct in connection with the claims.
3M offers $943 million to buy security firm
3M Co., the conglomerate whose products range from Post-Its to respirators, computer arms and films for LCD TV screens, is trying to expand into the security market by buying Cogent Inc. for about $943 million.
Cogent develops automated systems that read finger and palm prints, and it makes iris and facial recognition systems used by government, law enforcement and border patrol agencies.
Cogent’s board of directors already has agreed to the deal and is recommending that shareholders accept it.
Dealers hear plans for Fiat’s return
Fiat is coming back to the U.S. after a 30-year absence, and now Chrysler Group dealers have to decide whether they want to sell the Italian brand that initially will offer just one model, the tiny Fiat 500.
At a meeting in Detroit on Monday, about 400 Chrysler, Dodge and Jeep dealers who want to sell Fiats were told that the exotic minicar at first will be the only 2011 model in their Fiat showrooms.
Chrysler, now controlled by Italy’s Fiat, was short on specifics such as price.
Journal Gazette alters stock, fund listings
The Journal Gazette has eliminated most stock and mutual fund listings.
A Money & Markets page has been added to the Sunday Business section, and there is an expanded Stocks of Regional Interest.
Tuesday through Saturday, the newspaper will continue to carry the Money & Markets page and the regular Stocks of Regional Interest listing.
Comments about the changes can be made by calling 461-8255.
Genzyme rejects Sanofi-Aventis offer
Biotechnology company Genzyme Corp. said Monday it rejected Sanofi-Aventis SA’s $18.5 billion buyout offer because it undervalues the company.
On Sunday, French drug developer Sanofi-Aventis offered $69 per share for Genzyme, which has been struggling in the aftermath of manufacturing problems for key drugs.
