Lincoln Electric Acquires An Interest In Burlington Automation
Expands Offering in Robotic Plasma Cutting Systems
CLEVELAND, Nov. 18, 2013
CLEVELAND, Nov. 18, 2013 /PRNewswire/ --Lincoln Electric Holdings, Inc.
(Nasdaq: LECO) announced today that it has acquired an ownership interest in
Burlington Automation Corporation.
Burlington Automation is a leader in the design and manufacture of 3D robotic
plasma cutting systems. Based in Hamilton, Ontario, Canada, the company
serves a wide base of customers in the structural steel, construction, oil and
gas and general fabrication markets in North America. The company's main
products are sold under the brand PythonX^®.
"Burlington Automation broadens our portfolio of automated cutting and welding
process solutions and strengthens our automation strategy," said Christopher
L. Mapes, Chief Executive Officer. "Their proprietary technology complements
our current automated cutting and welding systems by enabling customers to
increase productivity and improve quality while reducing capital investment
and floor space."
"We are pleased to partner with Lincoln Electric," said Rob Tyler, President
of Burlington Automation. "Lincoln's market strength and worldwide reach will
enable Burlington Automation to continue to design leading manufacturing
systems while better serving new and existing customers across our growing
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 45
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.
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 operating initiatives; currency exchange and
interest rates; adverse outcome of pending or potential litigation; actual
costs of the Company's rationalization plans; possible acquisitions; market
risks and price fluctuations related to the purchase of commodities and
energy; global regulatory complexity; and the possible effects of events
beyond our control, such as political unrest, acts of terror and natural
disasters, 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 Form10-K.
SOURCE Lincoln Electric Holdings, Inc.
Contact: Amanda Butler, Director, Investor Relations, Tel: 216.383.2534,
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