Hypertherm Acquires AccuStream Waterjet Products Company |
Hypertherm, Inc.
Etna Rd., P.O. Box 5010
Hanover, NH, 03755 0010
USA
Press release date: January 2, 2013
HANOVER, NH - Hypertherm, a U.S. based manufacturer of advanced cutting systems, today announced the acquisition of AccuStream, a Minnesota based manufacturer of waterjet cutting products.
The acquisition will advance Hypertherm's strategy of providing customers with the optimum cutting technology-whether plasma, laser, or waterjet-for their particular cutting application, supported by the company's control and software products for increased performance and ease of use. At the same time, AccuStream and its customers will receive access to Hypertherm's substantial engineering resources and global infrastructure.
"AccuStream's core values and focus on building reliable, highly precise cutting products makes the company a perfect fit for Hypertherm," said Hypertherm founder and CEO Dick Couch. "We believe waterjet cutting is an excellent complement to Hypertherm's existing plasma and fiber laser technologies and look forward to working together to advance the capabilities of waterjet technology."
"Hypertherm's worldwide sales and service infrastructure is ideally suited to expanding the availability and support of our waterjet products," said Eric Chalmers, AccuStream's co-founder and president. "I am also excited about joining a company with such a high level of commitment to its team, and focus on developing market-leading technology."
Hypertherm does not plan any major changes to AccuStream's operations. All positions including manufacturing will remain in New Brighton, Minnesota and no workforce reductions or consolidations are planned. In addition, Hypertherm plans to provide AccuStream associates with the full complement of Hypertherm benefits, including profit sharing and full participation in its employee stock ownership plan.
The transaction was structured as a purchase of substantially all of the assets and assumption of certain liabilities of Accustream Inc. Financial terms of the transaction are undisclosed.
AccuStream Inc. specializes in the quality engineering, manufacturing and sales of high-pressure waterjet components and replacement parts designed to optimize performance and lower costs for users. The AccuStream A and AS Series of waterjet intensifier pumps, featuring the company's exclusive Advanced Intensifier Technology(TM) (AIT), are widely recognized for their outstanding reliability and cost-effective performance. AccuStream replacement parts are known for their quality and are available for all major brands of waterjet cutting machines.
Hypertherm designs and manufactures advanced cutting products for use in a variety of industries such as shipbuilding, manufacturing, and automotive repair. Its product line includes handheld and mechanized plasma systems and consumables, as well as fiber laser and now waterjet products, in addition to CNC motion and height controls and CAM cutting software. 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 more than 40 years, to 1968, with Hypertherm's invention of water injection plasma cutting. The associate owned company, consistently named one of the best places to work in America, has more than 1,300 associates along with operations and partner representation worldwide.
Adrienne B. Jacoby
Public Relations Counselor
The Meridian Group
575 Lynnhaven Parkway, 3rd floor
Virginia Beach, VA 23452
(O) 757-340-7425 | (C) 757-778-2326
Email: adrienne@themeridiangroup.com
www.themeridiangroup.com
|
|
|
|
|
|
|
|
|
|
|
