OMAX and Hypertherm successfully close merger agreement
OMAX Corporation, the manufacturer of abrasive waterjet systems, and Hypertherm, the US-based manufacturer of industrial cutting systems and software, has announced the successful closing of a previously announced agreement to establish OMAX as a wholly-owned subsidiary of Hypertherm.
The agreement, first announced on March 20, formally combines OMAX’s industry leading direct drive pumps, software and applications technologies with Hypertherm’s complementary portfolio of intensifier-based pumps and abrasive recycling systems to form the industry’s leading waterjet technology offering.
“As one of the world’s top waterjet manufacturers, we are excited to officially join forces with a company that shares our values and vision to deliver the industry’s broadest and most technologically advanced line-up of waterjet products,” says OMAX co-founder and CEO John Cheung. “The Hypertherm culture and business philosophy is remarkably similar and complementary to OMAX, and I have no doubt, the company I founded will keep a keen focus on the needs of our valued customers, as we have done for the past 25 years. The OMAX Corporation, and all it stands for, is in great hands with a very bright future ahead of it.”
“We are confident the combination of OMAX and Hypertherm will advance our strategy of delivering diverse, technology-driven cutting solutions focused on dramatic improvements in customer outcomes”, says Hypertherm president and CEO Evan Smith. “In uniting with OMAX, Hypertherm can combine the strengths of two highly talented engineering groups, OMAX engineers in Washington state with our waterjet group in Minnesota, to accelerate new waterjet technologies to market.
“We have great respect for OMAX and its products and look forward to working closely with the OMAX team to build upon its founding legacy.”
Based in Kent, Washington, OMAX Corporation is a global leader in advanced abrasive waterjet systems that cut virtually any material and thickness with unmatched speed and accuracy. Owner of the OMAX, MAXIEM, GlobalMAX, and ProtoMAX brands, the company provides a comprehensive selection of JetMachining Centers that feature intuitive software controls and incorporate the most efficient pump technology available. In developing its machines, the company designs, manufactures, assembles and tests components as a complete system to ensure optimum performance. The company also has the most comprehensive service and support network in the waterjet industry to keep its customers ahead of the manufacturing curve. Find out more at www.omax.com
Hypertherm designs and manufactures industrial cutting products for use in a variety of industries such as shipbuilding, manufacturing, and automotive repair. Its product line includes cutting systems, in addition to CNC motion and height controls, CAM nesting software, robotic software, and consumables. Hypertherm systems are trusted for performance and reliability that result in increased productivity and profitability for hundreds of thousands of businesses. The New Hampshire based company’s reputation for cutting innovation dates back 50 years to 1968, with Hypertherm’s invention of water injection plasma cutting. The 100 percent associate owned company, consistently named a best place to work, has more than 1,400 associates along with operations and partner representation worldwide. Learn more at www.hypertherm.com