Lincoln Electric Acquires Brazilian Brazing Products Manufacturer
October 01 2008 - 5:00PM
PR Newswire (US)
CLEVELAND, Oct. 1 /PRNewswire-FirstCall/ -- Lincoln Electric
Holdings, Inc. (NASDAQ:LECO) today announced that it has acquired a
90% interest in Brastak, a leading Brazilian manufacturer of
brazing products. The company is based in Sao Paulo and has annual
sales of approximately $30 million. "The Brastak acquisition
represents the expansion of our brazing product line as well as our
continued expansion into developing international markets," said
John M. Stropki, Chairman and Chief Executive Officer. "The Brastak
business, previously owned and operated by the Takemoto family,
will strengthen our presence in the Brazilian market and provide a
platform for servicing the South American region with high quality
brazing products." Founded by the Takemoto family in 1973 and
operated since that time by two generations, Brastak has been a
technology and innovation leader in the Brazilian brazing and
soldering alloys market. The company is certified ISO 9001/2000 and
was a pioneer in achieving ISO 14001 certification within the
brazing alloys industry in Brazil. Lincoln Electric is the world
leader in the design, development and manufacture of arc welding
products, robotic arc-welding systems, plasma and oxyfuel cutting
equipment and has a leading global position in the brazing and
soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln
has 39 manufacturing locations, including operations, manufacturing
alliances and joint ventures in 20 countries and a worldwide
network of distributors and sales offices covering more than 160
countries. For more information about Lincoln Electric, its
products and services, visit the Company's Web site at
http://www.lincolnelectric.com/ . The Company's expectations and
beliefs concerning the future contained in this news release are
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements reflect
management's current expectations and involve a number of risks and
uncertainties. Actual results may differ materially from such
statements due to a variety of factors that could adversely affect
the Company's operating results. The factors include, but are not
limited to: the effectiveness of operating initiatives; currency
exchange and interest rates; liquidity constraints imposed on
customers; adverse outcome of pending or potential litigation;
possible acquisitions; market risks and price fluctuations related
to the purchase of commodities and energy; global regulatory
complexity; and the possible effects of international terrorism and
hostilities on the Company or its customers, suppliers and the
economy in general. For additional discussion, see "Item 1A. Risk
Factors" in the Company's Annual Report on Form 10-K for the year
ended December 31, 2007. DATASOURCE: Lincoln Electric Holdings,
Inc. CONTACT: Roy L. Morrow (media), +1-216-383-4893, , or Joseph
P. Kelley (investors), +1-216-383-8346, , both of Lincoln Electric
Holdings, Inc. Web site: http://www.lincolnelectric.com/
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