Lincoln Electric to acquire Air Liquide Welding subsidiary
Lincoln Electric Holdings has entered into a definitive agreement with Air Liquide to acquire its Air Liquide Welding subsidiary.
Upon completion of the proposed acquisition, the complementary business would enhance Lincoln Electric's global specialty consumables portfolio and extend its channel reach for equipment systems and Harris Product Group solutions in Europe, the company said. The combination would also offer European customers more comprehensive welding and cutting solutions, greater technical application expertise and improved service levels.
"We are excited at the prospect of joining two leading welding and cutting organizations together who are dedicated to delivering best-in-class engineered solutions," said Christopher L. Mapes, Lincoln Electric's chairman, president and chief executive officer. "The complementary nature of the businesses would strengthen our geographic footprint and advance our ‘2020 Strategy' to drive growth in attractive end sectors and applications. It would also provide greater efficiencies in supply chain, service infrastructure, commercial reach and new product development, which will reinforce Lincoln Electric's long track record of generating value for our shareholders."
INDUSTRIAL SUPPLY MAGAZINE
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