March 22, 2018 3:53 PM ET


Company Overview of The Lincoln Electric Company

Company Overview

The Lincoln Electric Company designs, develops, and manufactures arc welding products, robotic welding systems, and plasma and oxyfuel cutting equipments. The company’s products include welders, wire feeders, welding consumables, fume extraction systems, guns and torches, fixed table systems, and electrodes, as well as gas and medical equipment and accessories. It also provides welder and generator for construction contractors, maintenance crews, farmers, and ranchers. The company was incorporated in 1906 and is based in Cleveland, Ohio. The Lincoln Electric Company operates as a subsidiary of Lincoln Electric Holdings, Inc.

22801 Saint Clair Avenue

Cleveland, OH 44117

United States

Founded in 1906





Key Executives for The Lincoln Electric Company

Chairman, Chief Executive Officer and President
Age: 55
Executive Vice President and President of Americas Welding
Age: 54
President of Business Development for the Americas Welding Segment
Age: 50
Chief Information Officer and Executive Vice President
Age: 50
Vice President and Deputy General Counsel
Age: 43
Compensation as of Fiscal Year 2017.

The Lincoln Electric Company Key Developments

Lincoln Electric Holdings, Inc., The Lincoln Electric Company, Lincoln Electric International Holding Company, J.W. Harris Co., Inc. Enter into Amended and Restated Credit Agreement

On June 30, 2017, Lincoln Electric Holdings, Inc. (the ‘Company’), The Lincoln Electric Company, Lincoln Electric International Holding Company, J.W. Harris Co., Inc., and certain other domestic subsidiaries (collectively, with the company, the “Borrowers”) amended and restated their amended and restated credit agreement, dated as of July 26, 2012, as amended by the first amendment to the amended and restated credit agreement, dated as of September 12, 2014, by entering into the amended and restated credit agreement, dated as of June 30, 2017 by and among the Borrowers and the Lenders, with KeyBank National Association as Letter of Credit Issuer and Administrative Agent for the Lenders. The amended and restated credit agreement extends the maturity of the revolving credit facility under the original credit agreement to June 30, 2022 and provides that the $400 million revolving credit facility may be increased, subject to certain conditions, by an additional amount up to $100 million. The interest rate on borrowings under the amended and restated credit agreement is based on either LIBOR or the prime rate, at the Company’s election, plus a spread, in the case of LIBOR loans ranging from 0.67% to 1.475% and, in the case of prime rate loans, ranging from 0.0% to 0.475%, in each case, based on the company’s consolidated leverage ratio. The revolving credit facility may be used for general corporate purposes, including the acquisition of other businesses. The amended and restated credit agreement contains customary affirmative, negative and financial covenants for credit facilities of this type, including limitations on the company and its subsidiaries with respect to liens, investments, distributions, mergers and acquisitions, dispositions of assets, transactions with affiliates and a consolidated fixed charges coverage ratio and consolidated total leverage ratio.

The Lincoln Electric Company Announces Board Changes

The Lincoln Electric Company has promoted John T Bronstrup to the newly created position of president, Business Development for the Americas Welding segment. He previously served as vice-president finance, North America, and Daniel E McMillin Jr will succeed Bronstrup in that position. McMillin has more than 25 years of finance and accounting experience and was most recently Lincoln's international controller.

The Lincoln Electric Company Promotes Michele R Kuhrt to Executive Vice-President and Chief Information Officer

The Lincoln Electric Company announced the promotion of Michele R Kuhrt to executive vice-president and chief information officer. She joined Lincoln Electric in 1997 as director of taxes and in 2006 was elected as a company officer and senior vice-president, tax.

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