Lincoln Electric To Acquire Robolution GmbH
Expands Geographic Reach in Robotic Welding Systems
CLEVELAND, Nov. 18, 2013
CLEVELAND, Nov. 18, 2013 /PRNewswire/ -- Lincoln Electric Holdings, Inc.
(Nasdaq: LECO) announced today that it has entered into a definitive agreement
to acquire Robolution GmbH, a leading European provider of robotic arc welding
systems. Based outside of Frankfurt, Germany, the company serves a number of
leading automotive OEMs and Tier 1 suppliers.
"Robolution expands the geographic reach of our growing automation business,"
said Christopher L. Mapes, Chief Executive Officer. "With our recent
acquisitions of Wayne Trail and Tennessee Rand, and our new greenfield
facility in Brazil, Robolution will enable us to seamlessly support customers
across three continents."
"We are pleased to partner with Lincoln Electric," said Wolfgang Koenig,
Managing Director of Robolution. "Lincoln's financial strength and worldwide
reach will enable us to better serve new and existing customers across our
The transaction is expected to close by the end of the month and terms were
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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