Lincoln Electric Holdings, Inc. (NASDAQ:LECO) announced that it has acquired the welding operation assets of Techalloy Company, Inc. and of its parent company, Central Wire Industries Ltd. Known commercially as Techalloy, the Baltimore, Maryland-based manufacturer is a privately-held producer of nickel alloy and stainless steel welding consumables.
"The addition of Techalloy expands our product portfolio of high alloy consumables required to service customers in North America and around the world," said John M. Stropki, Chairman and Chief Executive Officer of Lincoln Electric.
Stropki added, "In particular, Techalloy's nickel alloy welding consumables are positioned well globally in the high growth energy and infrastructure segments of our business. We expect growth in these segments to continue worldwide and believe the Techalloy product line will help expand and deepen our relationships with these key customers."
Techalloy has annual sales of approximately $70 million and employs 55 people. Terms were not disclosed.
Lincoln Electric is a specialist 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, the company has 41 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries.
More Info: www.lincolnelectric.com
