MHM restructuring?

[brandon]

Can anyone else confirm they are entering into insolvency proceedings? I assume this is heading towards bankruptcy or looking for a buyer? Probably the second option. It has happened before, so just curious from any MHM owners out there.

[TCT]

I'm like 90% sure it's their third time... They already lost their dealer in Mexico back to M&R.

Kinda sucks because they had/have some incredible innovations and great things come out of there, but another Austrian company Maricode had issues(more drastic) but they screwed lots of people over. 

I just don't see how if you owe suppliers and have no money how you are going to make a consistent product going forward. Or at least have the correct parts to service previous version/suppliers equipment.

When a company that has innovations others did/do not gets hit it hurts the overall industry progressing forward.

Anyway, enough of my .02. The Insolvency proof is below.

[GraphicDisorder]

Hate to see that, thats the brand id buy if it wasn't M&R.

[californiadreamin]

MHM will try to restructure. They will try to offer 20% to creditors and see if they agree.
Time will tell, as it always does.
The big problem is machine sales in the last 9 months in the US and worldwide are down 50-60%.
Tuff to spin, that consumer confidence is strong.
The big problem in my opinion, is the major players are all owned/ controlled by private equity companies including MHM. Private equity does not invest to help companies grow long term.
They invest to make giant profits. When they dont, they shutter the company, and take a write off.
The best the Screen print industry can hope for is the sales will flatline and companies will try to react
The best that they can. All of the said companies, have been, and are up for sale. Nobody is buying.
They will all try to restructure existing debt and hope! Good Luck! To further complicate the issue,
Is shipping/ transportation cost as well as lead times, part availability. MHM fabricates 90% of their parts. They do not build with off the shelf solutions. In my opinion companies that will survive an prosper will be smaller in size, not depend on global sales, and owned/run by their owners/ employees.
Instead of private equity groups. From my position, as someone that works on all these machines, they need to return to more analog, simpler machines. Nice to have all the bells and whistles, but being able to source parts, and get them fast is more important. Downtime will kill all industry.
My opinion
Winston

[TCT]

From my position, as someone that works on all these machines, they need to return to more analog, simpler machines. Nice to have all the bells and whistles, but being able to source parts, and get them fast is more important. Downtime will kill all industry.
My opinion
Winston

The thought of machines reverting to variations of a Brown ElectraPrint makes me uneasy. I just can't. I LOVE knowing where everything is and telling the press what to do from one point. Although Brown DID jazz their machines up at Print United with a new two tone paint job...


Winston, I love ya and miss ya, actually sent business your way about a month ago with a dryer issue! Hope you are leaving the dream!

[tonypep]

Lake Shirts runs 73 MHMs. Dont think they're worried, probably have a few extra presses just for parts!

[1964GN]

The people that I have spoken to that are fairly close to the situation are not overly concered at the moment. This happened once before in 2008/2009 and they came out of it fine, but you never know.

Lakeshirts has quite a few more MHM's in other facitities they own, I don't know the total number of machines but it's over 100. Hanes has a bunch as well as some other large printers.

They brought back Florian Freilinger way to late in the game IMO

[TCT]

Was going to say Lake shirts now has over 100 across 3 locations up here.

[ebscreen]

Well said Winston. Businesses that are run as a business tend to fare better than businesses run as an investment.
The end goal is the same for both, make money, but one style tends to try do so at the sake of anything else.

The company that bought them in 2009 was also in the espresso machine business if I'm not mistaken.

[californiadreamin]

If anyone can turn MHM around, Florian has the best shot! He is a good guy from what I have herd.
Tough for any business manufacturing in Austria, Germany these days.
I think for this industry, at its current projection, with less sales, I think you will see Manufacturer direct. Prices need to come down industry wide. I believe prices have risen,
Any company can only cover so much bad decisions/ debt and pass it on to end users. Alex.Brown machines? Never sold one, only worked on a dryer or two. No disrespect to the company, just have not
Had the need. I would not say less features, only less  displays, softwear to run machines. I know people that own their machines out right and have the machines shut down on a Friday afternoon, and they cant run until Monday so they can receive a code to operate. Or if the industry had a choice to use
Opensource softwear I would feel I would have better options.Lots of good equipment being built world wide. Setting up a shop in Vegas to do Allover/ Jumbo prints if any of you guys have a need. Hit me up!
Still turning wrenches, but difficult when parts are hard to get!
Winston

[ericheartsu]

If anyone can turn MHM around, Florian has the best shot! He is a good guy from what I have herd.
Tough for any business manufacturing in Austria, Germany these days.
I think for this industry, at its current projection, with less sales, I think you will see Manufacturer direct. Prices need to come down industry wide. I believe prices have risen,
Any company can only cover so much bad decisions/ debt and pass it on to end users. Alex.Brown machines? Never sold one, only worked on a dryer or two. No disrespect to the company, just have not
Had the need. I would not say less features, only less  displays, softwear to run machines. I know people that own their machines out right and have the machines shut down on a Friday afternoon, and they cant run until Monday so they can receive a code to operate. Or if the industry had a choice to use
Opensource softwear I would feel I would have better options.Lots of good equipment being built world wide. Setting up a shop in Vegas to do Allover/ Jumbo prints if any of you guys have a need. Hit me up!
Still turning wrenches, but difficult when parts are hard to get!
Winston

would love to learn more of the all over prints!

[SPX]

There is so much used equipment on the market, even hard to find machines less than 7 years old in the past at low prices. This is what the industry is dealing with now. There is less demand for new equipment and the mfg. know it. There will be further consolidation. Saw it in the graphic screen printing side with svecia, sias and others.

[ericheartsu]

plus with the rise of digital, many folks are opting for small digital machines, instead of big screen printing machines.

Same thing that happened in the 80s/90s as mentioned about graphics industry.