Lincoln Electric Acquires Vizient® Manufacturing Solutions
Advances the Automation Growth Strategy
CLEVELAND – Lincoln Electric Holdings, Inc. (Nasdaq:LECO) announced today that it has acquired Vizient® Manufacturing Solutions (“Vizient”), a privately held robotic integrator specialized in custom engineered tooling and automated arc welding systems for general and heavy fabrication applications.
“We are excited to welcome Vizient into our growing automation portfolio,” said Christopher L. Mapes, Chairman, President and Chief Executive Officer. “Their system design capabilities not only complement our current offering, but their focus on quality and customer service aligns with our values at Lincoln Electric. Vizient will also help diversify our end market exposure and broaden growth opportunities globally.”
Vizient is headquartered and operates in Bettendorf, Iowa and has operations in Brazil. Annual sales are approximately $40 million. 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 48 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.
Contact
Amanda Butler
Director, Investor Relations
Tel: 216.383.2534
Email: Amanda_Butler@lincolnelectric.com
