Plasma cutting systems manufacturer Hypertherm is now 100 percent employee-owned, the company announced Jan. 15.
Founders Dick and Barbara Couch said they hope to ensure the company remains independent and maintains its customer focus and core values for years to come.
“The well-being of our associates and shared rewards have been cultural cornerstones of Hypertherm since our founding in 1968,” said Dick Couch, Hyperthem’s chief executive officer. “Having the HSOP (Hypertherm stock ownership plan) and GSVP (global stock value program) own 100 percent of the company’s stock is a natural extension and completion of the journey we began in 2001.”
No management structure changes are planned, officials said.
“We have witnessed the amazing power of associate ownership since we launched the HSOP and GSVP,” said 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.”