Yizumi-HPM, the U.S. subsidiary of the worldwide Chinese language language gear maker, has expanded operations in Iberia, Ohio, for the second time in seven years, virtually doubling its home to 44,000 sq. toes from the 28,000 sq. toes unveiled in 2017 when it moved operations from its longstanding base in Marion, Ohio.
Yizumi Chairman and CEO Richard Yan, who traveled to Ohio for the grand opening event, suggested Plastics Experience that the $11-million funding is in response to continued improvement inside the North American market, along with 2024 when product sales have risen 35% at a time when many injection molding machine suppliers have expert weaker train. In a presentation, Yan said U.S. earnings is approaching $25 million over the last two years. To further assist that improvement, the company opened a tech coronary heart in Greenville, South Carolina, and purchased land in Guanajuato, Mexico, for a deliberate facility there. Growth on that plant is slated to begin out this 12 months and be completed in 2027.
Yizumi Chairman and CEO Richard Yan addresses open residence attendees from the company’s newly opened enlargement. Provide: Plastics Experience
Together with providing a service coronary heart with machine and spare parts inventory, the expanded home will current technical assist, after-sales service, teaching, and mildew testing and validation. Staffing accommodates 13 native technical service workers, with the company promising next- or same-day provide for 90% of parts, with larger than $2 million worth of parts inventory available in Iberia. In complete, there are presently larger than 30 workers in Iberia.
The model new home can also enable the company to keep up as a lot as 40 presses in inventory compared with 15 to twenty beforehand. The arrange of a much bigger overhead crane, with double the lifting functionality of its predecessor, can also enable Yizumi to assemble full machines in Ohio.
Yizumi acquired the earlier HPM in 2011, and the company says (not along with legacy HPM machines), it has an put in base of larger than 200 Yizumi presses inside the U.S. The company supplies plastic and rubber molding machines and automation, along with an industrial 3D printing system, with die casting and thixomolding presses for metal forming.
In injection molding, it offers servo-hydraulic and all-electric machines, along with greater two-platen strains, multicomponent machines and high-speed applications designed for packaging. Inside the U.S., Yan said 60% of Yizumi’s enterprise is generated by product sales of plastic injection molding machines. In 2023, the company generated $576.49 million in complete product sales, with $239.7 million coming from injection molding, $58.5 million in die casting and $13.5 million in rubber.
Primarily based in 2002 as a producer of plastic injection molding machines, Yizume added rubber molding in 2009 and purchased HPM in 2011. In 2016, the company constructed a model new facility in India, with the enlargement into the U.S. the next 12 months. It then opened subsidiaries in Vietnam, Germany, Thailand and Brazil in 2019, 2020, 2022 and 2023, respectively. It moreover has plans to develop its operations in Hungary and Italy.
Yizumi has 5 manufacturing providers in China, the place it’s moreover developing a model new worldwide headquarters slated to open in 2027. Current month-to-month injection molding machine functionality is accessible in at 1,500 to 1,800 presses per 30 days.
Yizumi’s newly expanded facility will enable it to increase machine inventory from 15 to twenty presses as a lot as 40 machines. Provide: Plastics Experience