Hypertherm is Now Fully Employee-owned

Posted by Michelle Howard
Wednesday, January 15, 2014

Hypertherm, a U.S. based manufacturer of plasma, laser and waterjet cutting systems, has announced the transfer of all its common stock into an Employee Stock Ownership Plan (ESOP), making the company 100 percent employee owned under an S-Corporation structure.


Previously, Hypertherm’s ESOP, known internally as the Hypertherm Stock Ownership Plan or HSOP, held approximately one-third of the company’s stock. Controlling shareholders Dick and Barbara Couch created the plan in 2001, followed by a Global Stock Value Program (GSVP) for international associates in 2004.


With the redemption and purchase of all remaining shares into the HSOP, Dick and Barbara Couch seek to ensure the continuation of Hypertherm as an independent company living its core values and pursuing the long-term interests of its customers, associates and communities. Hypertherm’s “associate-owners,” already known for their customer focus, will be even more committed to providing the world’s leading industrial cutting solutions and to building long-term customer relationships founded on technology and service leadership.    


“The well-being of our associates and shared rewards have been cultural cornerstones of Hypertherm since our founding in 1968,” said Dick Couch, founder and chief executive officer. “Having the HSOP and GSVP own 100 percent of the company’s stock is a natural extension and completion of the journey we began in 2001.”


“We have witnessed the amazing power of associate ownership since we launched the HSOP and GSVP,” added Barbara Couch, Hypertherm’s vice president of corporate social responsibility. “We are delighted to transition ownership to our associates, who are best positioned to ensure that Hypertherm builds upon our strong culture, passion for technology and customer service, and commitment to our communities.”


Hypertherm is not planning any changes to its management structure. Dick Couch will remain chairman of the board of directors, chief executive officer, and trustee of the HSOP. Barbara Couch will remain a member of the board, vice president of corporate social responsibility, and president of the Hypertherm HOPE Foundation, a philanthropic 501(c)(3).


 

Maritime Reporter November 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

Technology

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

MARAD Tests Alternative Power for Ships

The Maritime Administration (MARAD) is testing state-of-the-art, environmentally efficient technology onboard the Training Ship (TS) Kennedy.   The National Defense

Ship Emissions: Chevron Lube Gains Key Approval

A new Chevron Marine Lubricants 100 BN cylinder oil, which is designed to offer ship owners the ability to achieve the latest emissions legislation, has received full sign off from a key engine maker.

Shipbuilding

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Arctic Oil: Bourbon to Enter Arctic Market in 2016

Bourbon plans to enter the growing Arctic Offshore market in 2016 with a new Anchor Handling Tug Supply (AHTS) vessel built by the Vard shipyard. This AHTS (Anchor

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

Finance

Italy Ending Med Sea Rescues

Rights groups warn of risk of more deaths; EU mission Triton will have more limited scope. Italy said on Friday it would close a sea rescue mission that has saved the lives of more than 100,

St. Lawrence Seaway Workers Extend Strike Deadline

The union that represents workers on the St. Lawrence Seaway, the waterway that links the Great Lakes and the Atlantic Ocean, has extended a strike deadline to Monday at 5 p.

Mitsubishi Exits Cruise Business; Books $357m Loss

Mitsubishi Heavy Industries, Ltd. (MHI) announced its decision to book an extraordinary loss from its cruise ship business in the company's consolidated financial

News

U.S. Drillers Cut Rigs to Lowest since August

Energy companies have reduced the number of rigs drilling for oil in the United States to the lowest since August, shifting more rigs in favor of natural gas as crude prices dive,

Equinox Class Scrubber Systems Receive Certification

Algoma Central Corporation (“Algoma”), the largest Canadian shipowner and operator of domestic Great Lakes vessels announces that it has received all requisite

Wärtsilä, Diesel United Renew Pact

Wärtsilä and Diesel United Ltd in Japan have signed a ten-year renewal of their co-operation agreement for the sale, manufacturing and servicing of Wärtsilä low-speed marine engines.

 
 
Maritime Careers / Shipboard Positions Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2028 sec (5 req/sec)