January 3, 2013
Hypertherm, a U.S.-based manufacturer of advanced cutting systems, has announced the acquisition of AccuStream, a Minnesota-based manufacturer of waterjet cutting products.
"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.