OMAX Corporation, a manufacturer of abrasive waterjet systems, plans to join forces with Hypertherm, a U.S. based 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. Upon the closing of the transaction, expected on or around April 9, OMAX\u2019s industry leading direct drive pumps, software, and applications technologies will combine with Hypertherm\u2019s complementary portfolio of intensifier-based pumps and abrasive recycling systems, to form the industry\u2019s leading waterjet technology offering.<\/p>\n
\u201cWhen the late Dr. 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. We more than succeeded, creating one of the world\u2019s top waterjet manufacturers,\u201d said John Cheung, co-founder and CEO of OMAX. \u201cTogether, 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\u2019s announcement, I am comforted knowing he completely supported and wanted this for OMAX.\u201d<\/p>\n
\u201cHypertherm 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,\u201d said Hypertherm president and CEO Evan Smith. \u201cWe are confident the combination of OMAX\u2019s cutting-edge technology and solutions, innovation focus, strong brand name, commitment to customers, and excellent culture is a perfect complement to Hypertherm\u2019s waterjet offerings and plasma cutting industry leadership position. It enhances our strategy of delivering cutting solutions that put customer needs first.\u201d<\/p>\n
Hypertherm does not plan to make significant changes to OMAX\u2019s operations, management structure, or distribution channels. The company\u2019s 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\u2019s no-layoff philosophy. Hypertherm also anticipates continuing both the Hypertherm and OMAX waterjet product offerings and brands, as the companies\u2019 technologies and business models balance each other.<\/p>\n","protected":false},"excerpt":{"rendered":"
OMAX Corporation, a manufacturer of abrasive waterjet systems, plans to join forces with Hypertherm, a U.S. based 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. Upon the closing of the transaction, expected on or around April 9, OMAX\u2019s industry<\/p>\n