Lincoln Electric Dedicates New Welding Consumables Facility in India to Serve Growing Markets
May 11 2009 - 6:24AM
PR Newswire (US)
CLEVELAND, May 11 /PRNewswire-FirstCall/ -- Lincoln Electric
Holdings, Inc. (NASDAQ:LECO) today dedicated a 100,000-square-foot
welding consumables facility in Chennai, India, which will serve
the growing market in that country and markets throughout the Asia
Pacific region. Speaking at dedication ceremonies in Chennai today,
John M. Stropki, Chairman and Chief Executive Officer, said, "The
new Chennai plant represents an important investment for Lincoln in
the expanding market for welding products in India. Our plant will
serve the growing demand from industry and large infrastructure
projects that are fueling India's economic growth." The Lincoln
Chennai plant will manufacture solid welding wire used for a
variety of welding applications in industry segments such as heavy
equipment, metal buildings, pipeline and pipe mills, and power
generation, which includes the fabrication of wind towers. The new
campus consists of offices for the Company's new Indian
Headquarters, training and welding demonstration facilities and
manufacturing space. Lincoln Electric Asia Pacific President Thomas
A. Flohn said, "This new facility incorporates state-of-the-art
manufacturing and environmental systems and reaffirms our
commitment to operational excellence and environmental
preservation. It will be a highly productive and efficient plant
that will meet the highest level of environmental standards."
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 42 manufacturing locations,
including operations and joint ventures in 21 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 website 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: general economic and market conditions; the
effectiveness of operating initiatives; currency exchange and
interest rates; 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. DATASOURCE:
Lincoln Electric Holdings, Inc. CONTACT: Media, Asia Pacific, Max
Chong, (+65) 6854 5360, , or Media, U.S.A., Roy L. Morrow,
+1-216-383-4893, , or Investors, Joseph P. Kelley, +1-216-383-8346,
, all of Lincoln Electric Holdings, Inc. Web Site:
http://www.lincolnelectric.com/
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