Lincoln Electric Acquires Vizient® Manufacturing Solutions
May 16 2016 - 7:30AM
Lincoln Electric Holdings, Inc. (Nasdaq:LECO) announced today that
it has acquired Vizient
® Manufacturing Solutions
(“Vizient”), a privately held robotic integrator specialized in
custom engineered tooling and automated arc welding systems for
general and heavy fabrication applications.
“We are excited to welcome Vizient into our growing automation
portfolio,” said Christopher L. Mapes, Chairman, President and
Chief Executive Officer. “Their system design capabilities not only
complement our current offering, but their focus on quality and
customer service aligns with our values at Lincoln Electric.
Vizient will also help diversify our end market exposure and
broaden growth opportunities globally.”
Vizient is headquartered and operates in Bettendorf, Iowa and
has operations in Brazil. Annual sales are approximately $40
million. Terms of the transaction were not disclosed.
About Lincoln Electric
Lincoln Electric is the world leader in the design, development
and manufacture of arc welding products, robotic arc welding
systems, plasma and oxy-fuel cutting equipment and has a leading
global position in the brazing and soldering alloys market.
Headquartered in Cleveland, Ohio, Lincoln has 48 manufacturing
locations, including operations and joint ventures in 19 countries
and a worldwide network of distributors and sales offices covering
more than 160 countries. For more information about Lincoln
Electric and its products and services, visit the Company's website
at www.lincolnelectric.com.
Forward-Looking Statements
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. Forward-looking
statements generally can be identified by the use of words such as
"may," "will," "expect," "intend," "estimate," "anticipate,"
"believe," "forecast," "guidance" or words of similar meaning.
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
post-acquisition integration efforts; and market risks and price
fluctuations related to the purchase of commodities and energy. For
additional discussion, see "Item 1A. Risk Factors" in the Company's
Annual Report on Form 10-K.
Contact
Amanda Butler
Director, Investor Relations
Tel: 216.383.2534
Email: Amanda_Butler@lincolnelectric.com
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