It looks like an industrial. The red tip might be a guide of some sort.
It looks like the knob on lower part might be a latch to get to the underside of the machine to oil??
It looks like there is a badge on the pillar under the black doohickey.
I found this site for machine parts and "ABLE" as a manufacturer.
http://www.cerliani.it/reference_tab...&l=tab&lng=ing
Unable to find much else as HB500 is also a lathe model.
Janey - Neat people never make the exciting discoveries I do.