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 January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Reftrade Upgrades Fleet Refrigeration Systems

Reftrade UK  has made an investment  to upgrade its fleet with environmentally friendly technology. The world’s first refrigeration system to use CO2 as a natural refrigerant,

ClassNK Reports Record 2014

Announcing its registration totals for 2014, ClassNK said 833 new vessels with a combined total of 21,466,272 gt joined its register over the course of the year,

GE Launches GE Marine Organization

GE unveils GE Marine organization to power, propel and position the global marine industry   GE unveiled today its new GE Marine organization which cumulates

Technology

Navigational Charts App Debuts at Ocean Business

An independent consultancy and software development company will launch a new web and PC based navigational charting app at Ocean Business 2015.   Norcom Technology

Reftrade Upgrades Fleet Refrigeration Systems

Reftrade UK  has made an investment  to upgrade its fleet with environmentally friendly technology. The world’s first refrigeration system to use CO2 as a natural refrigerant,

Liberian Registry Launches Green Ship Initiative

“We have launched a new initiative to help shipowners improve their green credentials and meet other corporate social responsibilities," said Scott Bergeron, CEO

Shipbuilding

Ferus Smit to Launch Newbuild for Symphony Shipping

Ferus Smit announced it will launch Newbuuld 417 on Saturday, February 21 in Leer.   Newbuild 417, a multipurpose vessel to be christened Nordana Sky, is the

Damen Delivers Custom-Made Offshore Winches to Fugro

Damen Maaskant Shipyards, part of Damen Shipyards Group, has delivered two dedicated offshore winches to Fugro. The Dutch shipyard was responsible for the design,

MOL, Mitsui Ink Charter Deal

Mitsui O.S.K. Lines, Ltd. signed a contract with Mitsui & Co., Ltd. today (January 29) to charter a new 177,000m3 liquefied natural gas (LNG) carrier. This

Finance

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Bill Proposed to Repay WWII Merchant Mariners

Congresswoman Janice Hahn (Calif.) and Congressman John Duncan Jr. (Tenn.) introduced the “Honoring Our WWII Merchant Mariners Act of 2015,” which would provide

Stolt-Nielsen Q4 Profit Misses Forecast

Shipping firm Stolt-Nielsen reported fourth quarter earnings below forecasts on Thursday and said it was concerned about the outlook for the chemical tanker market,

News

Baltic Sea Freight Index Falls to Lowest Level Since 1986

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, spiralled downwards to its lowest level in nearly three

Bill Proposed to Repay WWII Merchant Mariners

Congresswoman Janice Hahn (Calif.) and Congressman John Duncan Jr. (Tenn.) introduced the “Honoring Our WWII Merchant Mariners Act of 2015,” which would provide

Navigational Charts App Debuts at Ocean Business

An independent consultancy and software development company will launch a new web and PC based navigational charting app at Ocean Business 2015.   Norcom Technology

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction 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: 0.2273 sec (4 req/sec)