The 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 said in a statement announcing the closure. “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.”
