HP Steel goes under the hammer

HP Steel, one of Australasia’s largest producers of steel drums, has been put on the market by receivers PwC. According to SmartCompany.com.au, the company went into receivership this past December, a victim of the strong Australian dollar, general economic malaise and under-capitalisation. Formerly owned by Greif, HP Steel operates two production sites in Victoria and Queensland. Its drum portfolio encompasses both tight-head and open-top designs with filling capacities of up to 205 litres. Manufactured using steel with gauges ranging from 0.6 mm to 1.15 mm, the company’s units can be supplied with or without UN homologation as required. HP Steel also produces a range of drum lids, tops and locking mechanisms.

www.hpindustries.co.nz