Hypertherm Associates to close down legal entity in Russia
HANOVER, N.H.—Nov. 1, 2022—Hypertherm Associates, a U.S. based manufacturer of industrial cutting products and software, today announced plans to formally close its legal entity in Russia. This announcement follows a decision in March of this year to suspend business because of Russia’s military invasion of Ukraine.
The continued humanitarian crisis and unpredictable business environment have caused Hypertherm Associates to conclude that a resumption of its Russia business is not going to be possible for some time.
The company has worked to reassign affected Associates to new roles within its European and Middle East operations and is grateful to the many Russian partners who helped Hypertherm Associates grow its business over the past two decades.
Hypertherm Associates is a U.S. based manufacturer of industrial cutting products and software. Its products, including Hypertherm plasma and OMAX waterjet systems, are used by companies around the world to build ships, airplanes, and railcars; construct steel buildings, fabricate heavy equipment, erect wind turbines, and more. In addition to cutting systems, the company creates CNCs and software trusted for performance and reliability that result in increased productivity and profitability for hundreds of thousands of businesses. Founded in 1968, Hypertherm Associates is a 100 percent Associate-owned company, employing approximately 2,000 Associates, with operations and partner representation worldwide. Learn more at www.HyperthermAssociates.com.