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

Extreme Tool uses remote Michigan location to attract younger workers

September 30, 2014 3:47 pm ET

“I'm not saying there's anything wrong with being an old guy like me. But I do believe in the power of youth and reinvesting in training. The...    More

Image

Ohio molder Denbro Plastics moves to new location

September 29, 2014 6:17 pm ET

Logo products injection molder Denbro Plastics Co. has moved to another plant within Toledo, Ohio, to streamline production and improve efficiency.    More

Image

Japan's parts makers face challenges as carmakers expand supply base

September 29, 2014 11:01 am ET

For all their size and success, Japanese auto suppliers that rocketed to global dominance on the coattails of their No. 1 customer, Toyota Motor Corp....    More

Image

Ewikon, Gammaflux form private-label partnership

September 23, 2014 2:47 pm ET

German hot runner manufacturer Ewikon GmbH is forming a private-label partnership with Gammaflux LP, Ewikon announced at a Technology Day held Sept....    More

Image

Chinese mold makers say they don't worry about reshoring trends

September 23, 2014 12:05 pm ET

Reshoring may be a hot topic in U.S. manufacturing circles, but the mid-level and small players putting in appearances at this year's AsiaMold in Guan...    More

Market Reports

Plastics in Mexico - State of the Industry Report

This report analyzes the $20 million dollar plastics industry in Mexico including sales of machinery & equipment, resins and finished products.

Our industry analysis highlights macro industry trends and micro trends faced by companies that do business in Mexico. The report also provides key industry statistics and forecasts to anticipate future industry expansion.

Learn more

Plastics Caps & Closures Market Report

The annual recap of top trends and future outlook for the plastics caps & closures market features interviews with industry thought leaders and Bill Wood’s economic forecast of trends in growing end markets. You will also gain insight on trends in caps design, materials, machinery, molds & tooling and reviews of mergers & acquisitions.

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

More Events