Lincoln Electric Named Ohio Large Business Exporter of the Year
CLEVELAND, Ohio, U.S.A., August 24, 2008 -- Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has received the 2008 Ohio Governor's Excellence in Exporting Award as the state's large business exporter for its superior performance in exporting and contributions to the Ohio economy.
The exporting award program, in place since 1986, recognizes large and small Ohio companies and organizations that have shown top performance in exporting or heightened awareness of exporting as a vital component of the state's economy. Lincoln was also recognized for its exports program by the Ohio Governor's office in 1993 and 2004.
Ohio Governor Ted Strickland presented the award to Richard J. Seif, Senior Vice President of Global Marketing for Lincoln Electric, at ceremonies held in Columbus, Ohio.
In accepting the award, Mr. Seif said, "We at Lincoln are proud of this honor and our ability to contribute to the economies of our state and nation through our exports program. Exports of our high-tech welding products are helping to preserve and grow jobs here in the U.S. We are also strengthening our ability to compete globally through Lincoln's advanced welding solutions and our participation in the growing energy and infrastructure sectors around the world."
Approximately 30% of the Company's U.S. production is exported.
Ohio is the eighth-largest exporting state and the only state where exports have increased annually since 1998. In 2007, Ohio companies exported $42.4 billion in goods, an increase of 11.1 % over 2006.
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 38 manufacturing locations, including operations, manufacturing alliances and joint ventures in 20 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric, its products and services, visit the Company's Web site at www.lincolnelectric.com.
