Hypertherm Acquires Washington State Waterjet Manufacturer
NEC member Hypertherm
has signed a merger agreement with Washington State-based OMAX Corporation, a
manufacturer of abrasive waterjet systems. Under this agreement, OMAX will
become a wholly-owned subsidiary of Hypertherm, a Hanover, NH-headquartered
company that provides industrial cutting products and technologies.
Once this merger is complete, OMAX’s industry leading direct
drive pumps, software, and applications technologies will combine with
Hypertherm’s complementary portfolio of intensifier-based pumps and abrasive
recycling systems, to form the industry’s leading waterjet technology offering.
In keeping with Hypertherm’s no-layoff policy, there will be no consolidations
or reductions in OMAX’s 367-employee workforce.
Hypertherm’s President and CEO Evan Smith explained, “The
combination of OMAX’s cutting-edge technology and solutions, innovation focus,
strong brand name, commitment to customers, and excellent culture is a perfect
complement to Hypertherm’s waterjet offerings and plasma cutting industry
The Council congratulates Hypertherm on this acquisition and
the companies’ continued growth and success.