WATERJET MANUFACTURERS TO MERGE TO FORM INDUSTRY LEADER

22-03-2019

OMAX Corporation, a manufacturer of abrasive waterjet systems, plans to join forces with Hypertherm, a manufacturer of industrial cutting systems and software, following the signing of a definitive merger agreement that establishes OMAX as a wholly owned subsidiary of Hypertherm.

When the agreement goes into effect, expected on or about April 9th, 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.

“When the late Dr John Olsen and I founded OMAX 25 years ago, our goal was to combine new motion control technology with software to create an abrasive waterjet system unlike anything else on the market,” says John Cheung, co-founder and CEO of OMAX. “We more than succeeded, creating one of the world’s top waterjet manufacturers.”

“Together, we have been planning for the future of OMAX for some time. In planning for this future, we wanted to partner with a company that shared our values and vision. We wanted a company that would protect our culture, provide stability for our employees, and give our customers products and services consistent with our mission statement. Though Dr Olsen is sadly not here for today’s announcement, I am comforted knowing he completely supported and wanted this for OMAX.”

Hypertherm President and CEO Evan Smith says: “Hypertherm is excited to welcome OMAX to our family and to bring together the leading waterjet R&D and engineering team in the world with our hardworking and talented waterjet team in Minnesota.

“We are confident 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 leadership position. It enhances our strategy of delivering cutting solutions that put customer needs first.”

Hypertherm does not plan to make significant changes to OMAX’s operations, management structure or distribution channels. Its current offices and manufacturing operations in Kent, Washington, where the majority of its 367 associates are located, will remain intact, with no consolidations or reductions planned, in keeping with Hypertherm’s no-layoff philosophy. Hypertherm also anticipates continuing both the Hypertherm and OMAX waterjet product offerings and brands, as the companies’ technologies and business models balance each other.

Hypertherm
07 3103 1695
www.hypertherm.com

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