Calypso Waterjet Ceases
The company, named as one of the Dallas area’s fastest growing private companies two years ago, apparently closed near the end of January. Phone calls to the company’s Dallas headquarters weren’t answered in the past two weeks, and various former employees in online forums confirmed the closure.
Founded in 1992, the Dallas-based producer of Windows-based waterjet-cutting systems took an interest in the dimensional-stone industry during the early part of this decade. The company exhibited at a number of stone trade shows, and also developed the StoneCenter line of machines designed for stone fabrication.
In 2006, Calypso also earned a spot on the Dallas 100™, awarded by the Caruth Institute for Entrepreneurship at Southern Methodist University in its annual identification of the fastest-growing privately held companies in the Dallas area. The company also won the 2005 Award for Business Value from the Frost & Sullivan business-consultant firm.
In 2007, Dun & Bradstreet data published online showing Calypso with estimated annual sales of $5.5 million and 70 employees.
Last April, Calypso announced a partnership with WaterJet GmbH of Neustadt, Germany, for exclusive sales and service of Calypso machines in Europe.
However, former employees note that layoffs began at the firm last summer and continued through the remainder of 2008. Calypso remained open through the middle of last month, when Stone Business contacted the company for its abrasive-waterjet survey. (As a result, the company’s listing appears in the Febuary 2009 print edition of the magazine.)
Two of Calypso’s key employees went to waterjet rival MultiCam Inc. earlier this month.
Richard Carey, Calypso’s engineering manager will be in charge of MultiCam’s water jet engineering and product development; Scott Weber, former technical support manager at Calypso, will continue to develop MultiCam’s waterjet application and technical support capabilities.
Weber will also offers support for Calypso’s installed base of machines through MultiCam Other former employees are offering services on a freelance basis through contact at the Yahoo Waterjets forum.
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