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The company was known as the Arms Corporation of the Philippines (Armscor) until 2017. [ 1 ] The company has been headquartered in Marikina , Philippines since 1958 [ 2 ] and represented in the United States by its subsidiary Armscor International, Inc., located in Pahrump, Nevada with facilities in Stevensville, Montana .
It is a privately held company that is family-owned, based in Hickory, North Carolina, where it was originally founded in 1944 by Parks Underdown as the "Hickory Springs Manufacturing Company." [2] In May 2013, the firm announced it was being rebranded as "HSM." [1] The company operates 25 plants employing over 2,500 workers in 13 states. [1]
In 1968, the company was acquired by the Leisure Group. A turbulent period followed, due to the passage of Gun Control Act of 1968. The company then relocated to East Hartford in 1977. In 1978, Clem Confessore, company president, led a management buyout of High Standard from Leisure Group. In December 1984, its assets were auctioned.
Procter & Gamble Philippines, Inc. (also known as P&G Philippines) is the Philippine subsidiary of American multinational consumer goods company Procter & Gamble. [2] It is a manufacturer of laundry detergents and soaps, shampoos and hair conditioners, toothpastes, deodorants, skin care products, household cleaners, toilet soaps and consumer healthcare products.
H&S can refer to: Health and safety, a cross-disciplinary area concerned with protecting people's safety, health and welfare. Head & Shoulders, a brand of shampoo; Head and shoulders (chart pattern), a graphing pattern commonly found in financial markets; Hack and slash, a role-playing game play style
PMFTC, Inc. is the Philippine affiliate of Philip Morris International (PMI). Owned 50-50 by PMI and local conglomerate LT Group, [4] PMFTC is the leading cigarette manufacturer in the Philippines, controlling over 90% of the local market, commercialising the brands Fortune International, Hope Luxury, Marlboro, and More, among others.
The company's workforce was expected to increase to nearly 28,000 in 2016. However, a slump in shipbuilding projects limited the workforce to 20,000 as of 2017. [citation needed] As of September 2017, the company had the largest shipyard in the Philippines and was one of the largest private employers in the country. [citation needed]
In December 2021 HS Timber Group broke ground for the construction of a new sawmill in Gobernador Virasoro in Argentina. The project “Acon Timber” is a joint venture with the Belgian company Forestcape. [30] By January 2022, the company faced operational challenges in Romania leading to the partial closure of two Romanian plants.