Hydrapower Awarded Press Brake Contract
The new machine will be used in manufacturing patented technology that will be introduced soon into the energy transportation market.
Hydrapower International Inc. (Marco Island, FL) has been awarded a contract to manufacture a 3000 ton x 44 ft press brake for SMGT Ltd., an investment group based in Singapore. The machine will be built in Hydrapower’s North American facility and shipped to the new joint venture company of SMGT located on the Mississippi River in northern Louisiana.
SMGT Ltd., which has interests in developing technology in energy, transportation and logistics, has developed a new method of efficiently shipping liquefied natural gas (LNG) in easy-to-transport energy modules to undeveloped regions of the world. Specific details of their product will remain confidential until worldwide patent protection is in place. The company has also designed a special tooling system which will also remain confidential.
Hydrapower, a licensee of Global Brands Group Inc., manufactures the world’s largest press brakes and exports more than 75 percent of its products. The Hydrapower product line has continually grown and its Automation Systems represent a major part of the company’s overall revenues. Hydrapower produced North America’s first CNC press brake and, during the past 40 years, has introduced advanced design features that were later adopted by competitors.
