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August 1, 2001 Herald Times Reporter Manitowoc, Wisconsin David J. Wage, the former Executive Vice-President of Formrite Tube Company of Two Rivers, Wisconsin has purchased the assets of HMF, Inc. a Manitowoc Wisconsin based corporation. The new corporation will be renamed HMF Innovations, Inc. Tom Haug, an engineer and sole proprietor of HMF since opening the company in 1972, will remain with the company as a consultant. Wage said the name change was required as part of the asset purchase. Wage chose the new name based on remarks he heard from officials attending a reception in connection with a community wide industrial open house earlier this year. "Each of the speakers focused on the need to find innovative solutions to the current statewide labor shortage," Wage said. "Certainly, process automation will play a major role as manufacturers try to find creative ways to increase sales without adding employees. HMF is well positioned in the marketplace, given current economic conditions. We will continue to help our customers deal with the existing labor shortage through innovative automation solutions." HMF designs, manufactures and installs automation solutions for a variety of industries. It counts the Mirro, Caterpillar and Kohler Company among its customer base. When a customer wants to automate a production line or process, HMF engineers design a solution and take it to the company's group of machinists, who manufacture and install the completed assembly. A few years ago HMF automated Kohler Company's glazing operation for sinks and bathtubs. Previously, the sinks and tubs were removed from blast furnaces by workers using large tongs. "They came to us and said 'how can we automate this process and eliminate the human factor, making the entire process safer,'" Wage said. Wage, 41 holds a degree in physics from the University of Wisconsin. After college, he took a job with Wisconsin Public Service Corporation, managing scientists and engineers who were involved in nuclear training. He worked at Formrite Tube Company for nine years, most recently as Executive Vice-President. "Ultimately I always wanted to own a business," Wage said. "My wife and I have always been active in the community... and we want to make a positive contribution. I think one of the most effective ways to be active and contribute to the community is to operate a business within it." All 18 members of the HMF workforce were rehired following the acquisition. Negotiations took about three months, with both parties declining to disclose the sale price. Wage is a former member of the Manitowoc County Board of Supervisors and current member of the Manitowoc/Two Rivers Area Chamber of Commerce board of directors. The HMF production facility is located at 2214 Franklin Street. |
