Despite their popularity, many die-cast manufacturers went out of business in the 1980s. Meccano (Dinky), Matchbox, and Corgi all went bankrupt within a three-year span which essentially reflected the economic climate in the UK at that time. It had become virtually impossible to manufacture in England and compete on the world market. Mattel had long since shifted most of their production from the US to the Far East. Matchbox was purchased by a Hong Kong conglomerate named Universal Holdings which moved production from England to Macau. Mattel bought Matchbox in 1997, essentially making Hot Wheels and the Matchbox 1-75 line sister brands. The two brands continue to sell under their own separate names.