Lincoln’s Board of Directors decided to wait until the economy stabilized before moving forward with the acquisition negotiations. In May 2011, Lincoln’s Board authorized management to resume the process. On July 29, 2011 Lincoln completed the acquisition of TechAlloy’s assets.
Lincoln Electric is the world’s largest welding consumables manufacturer. It provides advanced welding and cutting technologies to all major industries. Techalloy has annual sales of approximately $70 million and employs 55 people. TechAlloy manufactures a full product line of stainless steel and nickel base welding wires and coated electrodes and select low-alloy wires.
Follow this link to read the press release or see the link below.
This is the 6th North American transaction that we have closed in the past 3 months.
On July 29, 2011, Lincoln Electric Holdings Inc. (NASDQ: LECO) acquired the assets of TechAlloy Welding Products in a private transaction. Details of this transaction were not disclosed.
For more information, contact:
Douglas Nix | CFA Oakville, Ontario, Canada | 905.845.4340 x211 | firstname.lastname@example.org