8 June 2006 — Salem (GER): Machinery manufacturer HSM is forecasting an impressive 25 percent increase in turnover after receiving some major orders including a large contract with Office Depot.
The total value of the Depot deal, which involves manufacturing a range of shredders and balers, has not been revealed. But HSM said that prior to this latest new contract, it had predicted that other major orders in the "environmental technology" sector would boost the company’s turnover to €82 million ($102 million) in 2006.
HSM’s US subsidiary, HSM of America, finalised the agreement which sees the German-based manufacturer make the step from a medium-sized company — solely driven by technological perspectives — into a truly global manufacturer. The firm said it has recently invested in computer numeric controlled (CNC) machines at its factory in Salem, which are able to produce much higher quantities of paper shredders than before.
The company said it is now recording the highest amount of new booked orders in its history with more than 70 percent of the company’s sales volume generated in international markets.
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