Yizumi Precision Machinery Co. of Hong Kong paid $325,000 in late March to win the rights to HPM’s name, designs, and customer lists during a two-day auction at the Mt. Gilead, Ohio, site of HPM’s former manufacturing plant. After a series of ownership changes, HPM was shut down in late 2009. Yizumi said it plans to use the HPM name to enter the U.S. market for injection molding and die-casting presses, exporting from China to North and South America.
It is unclear what plans, if any, Yizumi has for HPM’s former extrusion business, as Yizumi does not serve the extrusion market in China. Throughout most of its history, HPM was recognized as an innovator in screw technology, and focused on complete systems for sheet. Yizumi outbid sheet-equipment supplier Processing Technologies Inc. (PTi), Aurora, Ill., during the auction.
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