HMF buys Formrite, so customer base has supplier with increased range of capabilities.
A Wisconsin company that produces custom machinery and automation systems for heavy manufacturing and fabricating has acquired a steel tubing fabricator. HMF Innovations Inc. bought Formrite Cos., which produces steel tubing fabrictions for hydraulic and structural applications in construction, mining, agricultural, furniture, and lawn-care equipment markets.
The value of the purchase was not revealed. HMF owner David Wage will also acquire a controlling interest in Formrite’s outstanding stock.
“Our shared customer base is always looking for suppliers that can provide an increasing range of products and services including complete parts and assemblies direct to an assembly line,” stated Wage, who also is chairman and president of HMF Innovations and its affiliate company Heavy Metal Fabricators.
“Together, Formrite, Heavy Metal Fabricators and HMF Innovations can now provide our customers with complete machined fabrications from six pounds to 60 tons, along with steel tube assemblies and complex sub-assemblies, all manufactured using the latest automation technologies,” he said.
In the coming months, HMF Innovations will move its engineering and manufacturing operations from Manitowoc to Two Rivers, WI, where Formrite is based.
Wage predicted the Formrite business will rebound in line with national economic trends, which would allow it to recall some or all of more than 50 workers who have been laid off recently. He also anticipates HMF’s workforce will expand as manufacturers invest in automation and robotic systems.