Toolmaker Hitop Mold planning to double capacity

By Nina Ying Sun
Assistant Managing Editor

Published: April 5, 2012 6:00 am ET

Related to this story

Topics Automotive, Molds/Tooling, NPE 2012

ORLANDO, FLA. (April 5, 6 p.m. ET) — Automotive mold maker Hitop Mold Industrial Co. Ltd. plans to double its capacity of its factory in Dongguan, Guangdong province. Managing Director Toni Yuan said the company is ready to grow its U.S. business with some “lessons learned.”

The company, which recorded more than 80 million yuan (about US$13 million) in 2011 sales, is also planning on an initial public offering in China.

The expansion will start in August and add machinery to make large molds. It will help boost the company’s 2012 sales by 50 percent.

Hitop’s molds are used by its European clients to make parts for premium brands such as Bentley, Jaguar and Land Rover as well as other brands such as Ford, Toyota and Volvo.

It success in Europe hasn’t been able to replicate itself in the U.S. market, which only makes up less than 10 percent of its sales. Yuan reflected on its experience working with a U.S. customer that dropped Hitop about two years ago for some “miscommunication,” and concluded that “we need to try to communicate better with American customers, especially the details, preferably in person.”

In fact, Yuan is going to visit this customer after the NPE show. “Both parties have decided that we should resume our relationship.”

The recovery and growth of automotive business in the U.S. is encouraging in Yuan’s eyes. “We are looking for auto molders in the U.S. that are ready to take advantage of the opportunity and improve their cost structure.”

He plans to station a technical sales staff in North America.

Despite China’s booming auto market, domestic sales take up less than 30 percent of Hitop’s sales. “It’s a different business model,” he noted.

By different, he meant complicated. “For export business, all that matters is our competence – the capability to offer quality product, good service and communication. But for domestic business, it’s not the same.”


Comments

Toolmaker Hitop Mold planning to double capacity

By Nina Ying Sun
Assistant Managing Editor

Published: April 5, 2012 6:00 am ET

Post Your Comments


Back to story


More stories

Image

Netstal, Electra Form team up for PET preform partnership

November 20, 2014 3:15 pm ET

The Netstal division of Krauss-Maffei Corp. is teaming up with Electra Form Industries in a partnership to offer PET preform machines and molds as a...    More

Image

High pressure RTM systems moving from Europe to Mexico

November 20, 2014 4:24 pm ET

Engel Holding GmbH's subsidiary in Mexico says it has sold the first high pressure resin transfer machine system (HP-RTM) in the Americas to a...    More

Image

Thomson Plastics opens N.C. plant

November 20, 2014 3:12 pm ET

Custom injection molder Thomson Plastics Inc. has opened a new manufacturing facility in Lexington, N.C.    More

Image

Inspection system eyes carbon fiber automotive production

November 19, 2014 9:00 am ET

Pixargus GmbH, the company that created GoalControl, a 14-camera inspection system used to detect if a ball crossed the goal line at the World Cup...    More

Image

Illinois mold maker adds machinery, renovates to improve work flow

November 18, 2014 1:23 pm ET

Injection mold maker Industrial Molds Inc. is adding $1.7 million in new machinery, the company has announced.    More

Market Reports

Plastics in Brazil - State of the Industry Report

This in-depth report examines the Brazilian plastics industry from a historical and geographical context. Our analysts provide insight on economic trends and forecasts, growing manufacturing sectors that utilize plastics, private investment opportunities, market environment challenges, and innovations in R&D.

Data tables and charts on producer prices, trade, plastics production and end market indicators is also included.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molders Market Report & Ranking 2014

This special package contains our 132-page 2014 Market Report on the Injection Molding segment and our exclusive 2014 RANKINGS database of 500+ Injection Molders for a discounted package price.

Learn more

Upcoming Plastics News Events

January 14, 2015 - January 14, 2015Plastics in Automotive

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

October 27, 2015 - October 29, 2015Plastics Financial Summit - New York - 2015

More Events