Hypertherm Associates Plans to Close Russian Business
The announcement follows a decision to suspend business because of Russia’s invasion of Ukraine.
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Hypertherm Associates, a U.S. based manufacturer of industrial cutting products and software, plans to formally close its legal entity in Russia. This announcement follows a decision in March, 2022, to suspend business because of Russia’s invasion of Ukraine.
The continued humanitarian crisis and unpredictable business environment have caused Hypertherm Associates to conclude that a resumption of its business in Russia is not going to be possible for some time.
The company says it has worked to reassign impacted associates to new roles within its European and Middle East operations and is grateful to its 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 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.
