Hunter Automated Completes Buyout Agreement
Hunter Foundry Machinery Corporation
2222 Hammond Dr.
Schaumburg, IL, 60196
Press release date: June 28, 2012
Bill Hunter assumes 100% ownership of pioneering company in automatic matchplate molding machinery for sand casting
Schaumburg, Illinois (USA)-Hunter Automated Machinery today announced the completion of an asset buyout of the company and all its foreign subsidiaries by current President Bill Hunter. In his words, "We have successfully crossed the bridge of generational transition with this arrangement." Mr. Hunter bought the assets of the company held by his three sisters, Dianne, Linda and Heather. All were the children of Al Hunter, the late founder of the company that began building the automatic matchplate molding machine Al invented, in 1964. Today, Hunter machines and mold handling lines are operating in foundries worldwide. Hunter operates plants in the USA, Brazil and China. The company has European headquarters in Italy and regional offices in India.
Bill Hunter noted, "I am very thankful to my sisters, who worked closely with me on this agreement, allowing us to keep the company in the family. Likewise, I will always honor the memory of my father, who taught me much about this business and left a legacy of innovation and achievement in the global foundry market. We fully intend to continue and build on the company's long-standing traditions of technology, quality and service to the industry."
The agreement was finalized on June 27, 2012.
For further information on this announcement, interested parties may contact:
HUNTER AUTOMATED MACHINERY CORPORATION
2222 Hammond Drive
Schaumburg, Illinois 60196-1094
Phone: +1 847 397 5150
Attention: Bill Hunter, President