General > General Discussion and ???

MHM restructuring?

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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:

--- Quote from: californiadreamin on October 04, 2024, 10:52:00 AM --- 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

--- End quote ---

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... 8)


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!

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