HMI Industries Completes Private Offering and Makes Two Appointments

HMI Industries has been busy. On March 1, 2000, HMI Industries, Inc. (Cleveland, OH) completed a private offering at $1.625 per share of Common Stock. This generated an additional $2 million in capital. Net proceeds received from the sale of the shares will be used to implement the company's strategic plans which include expanding the geographic and demographic markets where their products are distributed and sold, increasing product awareness and brand recognition, streamlining processes and lowering costs, investing in new infrastructure and pursuing additional growth opportunities.

HMI also announced two appointments. Julie A. McGraw was promoted to chief financial officer and she will add this to her current title as vice president. McGraw previously held the position of corporate controller and chief accounting officer. HMI also promoted Darrell Weeter to president, Americas Division. Prior to joining the HMI staff as vice president, Americas Division, Weeter was one of the company's most successful independent distributors.

In case you don't know, HMI is a global direct-sale manufacturer of high-filtration portable surface cleaners, central vacuum cleaning systems and portable room air cleaners. You may recognize them under their trade names. Their high-filtration portable surface cleaner and portable room air cleaner are sold under the trade names Filter Queen, Princess, Majestic, Empress and Defender. The central vacuum cleaning system is sold under the trade names Vacu-Queen and Majestic II.