HPM, a division of Taylor's Industrial Services LLC, has made a partial first payment of taxes owed, beating a foreclosure-threatened deadline by Morrow County, Ohio. But HPM must make another payment by Dec. 1.
Morrow County Treasurer Daniel Green said the Mount Gilead-based machinery company presented a check to the county on Nov. 21. Green declined to say the amount of money HPM paid, but said it does not cover the full amount required for the first installment under a payment-plan agreement reached between the county and Christopher Filos, the top executive of Taylor's Industrial Services and its HPM division.
HPM owners must make the remaining portion of the first payment by the end of the day Dec. 1, Green said. If the company does not make that full first payment, Morrow County can proceed to foreclose on the company, he said.
HPM owes more than $900,000 in unpaid taxes to Morrow County. Local officials have not released details about how many payments the company must make, how much time is covered by the payment plan, or how much money is in each installment.
HPM, which makes injection molding machines, sheet lines and die-casting machines, has become a supplier to the fast-growing wind-energy business. The Ohio Department of Development has offered $4 million in low-interest loans to help HPM buy equipment to machine large, precision metal components for wind turbines. HPM has to pay payments on its Morrow County tax bill in order to get the loans from Ohio, state officials said.
The county's original deadline for the first payment was Nov. 26 the day before Thanksgiving. But Green said when they recounted the number of days called for in the agreement, the actual deadline turned out to be Nov. 28, the Friday after the holiday. County offices are closed that day, moving the deadline to Dec. 1.
The county treasurer filed the foreclosure complaint Aug. 19 in Morrow County Common Pleas Court.