RESEARCH AND DEVELOPMENT
We are committed to the continuous pursuit of fundamental knowledge, because we want to fully understand the products that we sell. This is why we work on an ongoing basis with a range of partners at universities, institutes and in industry on a range of theoretical and practical issues.
WEBCO INDUSTRIES, INC. AND HMP GROUP ANNOUNCE JOINT VENTURE
TULSA, Oklahoma, July 25, 2006 – Webco Industries, Inc. (OTC: WEBC) and the German-based HMP Group today announced their respective board of directors’ approvals for a joint venture between the two companies to produce and distribute rotary swaged parts in North America.
The joint venture will combine Webco’s expertise in the manufacture and cost-effective processing of tubing with HMP’s extensive experience in the design and construction of precision forming equipment, process development and component production. Although the joint venture has not yet been formally concluded, both companies are preparing for joint distribution and the development of joint projects. The new company will be located in Webco’s production facility in Reno, Pennsylvania. Although other applications are planned in the future, the joint venture will initially focus on rotary swaged parts for use in the North American automotive sector.
Webco’s Chairman and Chief Executive Officer F. William Weber commented, “We are excited about the prospects for this partnership with HMP. The venture will start off small, but the synergies created by the combined skills and knowledge of our companies will create exciting long-term opportunities. We believe that this venture is consistent with Webco’s strategy of deploying compelling manufacturing and information technology within niche markets.”
“This venture will enable HMP to build on its successful strategy of delivering first-class production equipment and technology to customers in North America and combine those strengths with Webco’s outstanding position in the North American tubing market,” added HMP's Managing Director and Shareholder Dr. Frank Müller. "Our companies are similar in many respects, including our desire to deliver exceptional products and service to our customers."
Webco is a manufacturer of high-quality carbon steel, stainless steel and other metal tubular products designed to industry and customer specifications. Webco's tubular products consist primarily of pressure tubing and speciality tubing for use in durable and capital goods. Webco's long-term strategy involves the pursuit of niche markets in the metal tubing industry by offering cutting-edge manufacturing technology. Webco has three production facilities in Oklahoma and Pennsylvania and five service centres in Oklahoma, Texas, Illinois, and Michigan, serving more than 1,000 customers throughout North America.
HMP develops and manufactures formed components from tubing and bar stock, primarily on equipment manufactured by its own machine building division. HMP’s net shape forming solutions include rotary swaging, axial forming, pulsation forming, drawing and rolling. HMP serves customers in the automotive and durable goods industries worldwide from its base in Pforzheim, Germany.
NURTURING THE NEXT GENERATION
The availability of a young, well-qualified workforce in the face of adverse demographic trends is a critical factor for successful corporate development. We focus on two factors:
- Dual system apprenticeships in cooperation with the DHBW Karlsruhe
- Establishing a relationship between us and students from regional universities by offering an exciting range of internships, theses and the opportunity to work for us as a student employee.