MHM restructuring?

[ebscreen]

Opensource softwear I would feel I would have better options

MHM was running Linux on their mid-2000's machines. Not sure if it was a private fork though, probably was.

There was a guy on here or the old forum that did all over printing had Anatol built machines just for it, I know he moved the company so what happen to him? plus I thought allover was just about dead or is it making a come back.

Dave at Spreading Ink? Kind of a perfect case study in the feasibility of all-over printing.
On the Eco XL we can print 28x39" or so, and it comes up occasionally for us, but I regret every time we do it.
You literally can't charge enough. Starching shirts takes foooorrrrrreeeevvvvveeerrrrr.

[californiadreamin]

Hello All
Dont want to derail thread. MHM builds fantastic machines. Sometimes life gets in the way.
Maybe Lakeside should buy them, move them to MN, let Spsi do the admin/support, and let Florian run the company. Problem Solved. No Joke.
Daryl,  The  company you were talking about was Spreading Ink. Run by Dave and his wife. Did great work. Sad to say, they were made an example by the 2012 Doj/immigration for their workers. The crew
He put together were awesome. The moved and opened up in Springfield Missouri into a great facility. The workers were not the same. Company failed. I moved alot of the equipment out. Please tell me Allover is not dead, I will have to resurrect it or lose my azz! I will be able to print 6 color 44”x58” so 5x
Can be done, as well as long sleeve of various sizes.  Putting all together now, hopefully start by end of month. Plastisol on the streetwear side, waterbase on other. A little bit concerend with printing waterbase in the Dessert! Much better to print in humidity. Miatsui / Jantex inks in LA something will be
Figured out. All over stuff on west coast is going to Vietnam. 100 piece minimums. The people are paying to do so. From my perspective it has to be reasonable but profitable. Will have all info soon.
Brad , when I hit Hotlanta I will call and you can have your limo pick me up. If anyone made money in the last few years, i am sure you have! Then we can go to Sonny’s house and have him cook on the big green egg.
Winston

[tonypep]

Definitely a could you/should you. I modified a manual press to take two M&R wing pallets and printed one color antique white discharge 32" wide shoulder to shoulder for our pre-print line. Extremely popular. Too popular actually. Time studies proved that were grossly undercharging. Needed a loader/unoader and me to print. That was tough stuff to print manually too! Company closed and preprint line was sold off and last I saw they were still selling them out of Maryland but they may have automated that. At Harlequin Nature Graphics we had two dedicated Scizzor pallets and we maxed out at 1,200 per ten hour shifts. M&R was always giving us beta stuff so dont recall what we paid for them but I believe the pallets were at least $1,200 and we needed 20 of them. Plus 4 custom built tee-shaped flashes and more mods. And yes, dedicated machines. You didn't want to switch back and forth from std to oversize. Oh, and we did index a guy (he was OK but never saw him again! Company also long since out of business.

[Maxie]

This is what I got from a friend at MHM:
"MHM did not file for bankruptcy.    That's what some people and competitiors want our customers to believe and some press releases are incorrect.
Inorder to reposition for the future we applied for a legal resturcture project run the the Austrian government.
We are going into a restructuring procedure according to the Austrian restructuring code."
I hope they make it, their machines are great.    So well made.     I wish them the best of luck.

[Jepaul]

It's going to be a tough hill to climb.  A couple of things stood out from this article.  13.4m revenue target and current liabilities of +6m.  Tough sledding with you have debt of more than half your revenue.    As a small company, it is very challenging to weather the huge swings in the industry we saw over the last 3 years.  You can't cut enough costs to stay solvent. 

It is not a popular opinion, but their best option to try and salvage any shareholder value and take care of their existing customers would be to sell to someone like Hanglory or Biyong ouf to China.  These huge companies would love an opportunity to get a brand and IP like MHM.  Mfg in China sells through existing dealers and continues supporting the existing customer base with parts.  For those who don't know, Hanglory is the one who makes the M&R ovals and hybrid machines. Huge company.   
http://www.hanglorygroup.com/en/article/Oval.html


https://kurier.at/wirtschaft/millionenpleite-des-druckmaschinen-herstellers-mhm/402957189?fbclid=IwY2xjawFz3XhleHRuA2FlbQIxMAABHe8h2dHajPSrvb-4x4Jdwg6nDESxiQzpsgHXyjJ4It5x5pD8npFF-AnUkQ_aem_h9chfTxRCPrg0GCKXB23sw

Machines Highest Mechatronic GmbH (MHM), based in Erl, Austria, has entered into insolvency proceedings at the Landesgericht Innsbruck, confirmed by Venka Stojnic from Creditreform. The company, which was founded in 2010 and employs 55 people, specializes in developing, producing, and selling screen printing machines for textiles, including rotary and carousel printers as well as digital printing machines.

The company follows the path of the former MHM Siebdruckmaschinen GmbH, which also went bankrupt in 2009, leading to a liquidation process and a payout of 27.3% to creditors.

MHM currently faces over €6 million in outstanding liabilities, with total liabilities reaching €8.62 million in 2022 and a loss of €1.458 million. The company’s revenue was significantly impacted in 2023 due to various factors, including the war in Ukraine, global inflation, high interest rates, and delayed or canceled orders. These issues have placed the textile industry under significant strain, contributing to market realignments and putting MHM’s 2023 revenue targets of €13.4 million at risk.

The company has implemented cost-cutting measures, including reducing personnel costs and procurement expenses, to mitigate the impact of these financial challenges. MHM believes these steps have improved its competitiveness, positioning it better for future opportunities.

The company is aiming for restructuring, with ongoing operations considered crucial for a successful recovery. However, it remains to be seen whether MHM can demonstrate a sustainable business model going forward, which would be necessary for creditors to support the continuation of operations.

[californiadreamin]

A Solid Observation Jepaul!
I agree. Hopefully they will pull it off. However, a pretty tough hill and sled to pull.
Great machines.

[3Deep]

This might sound silly but building a really good reliable machine/product can hurt you in the long run, I think about that sometimes with my customers that order T-shirts...our goal is to produce the highest quality prints and print it on the best shirts we can buy.  Doing that makes the customer very happy but the print and T-shirts last so long they might not need any for a year LOL same with good machines lasting 10 to 15 years or longer unless your the type that wants the new innovation every year, never used an MHM but from what I've heard and you guys talk about they are pretty good press's that last.

[SPX]

There will be more consolidation in mfg of SP equipment in the USA too. I think most are private equity. Maybe mergers or dissolutions. It’s so sad but innovation like DTF are impactful on analog machinery manufacturers bottom line.