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.
Forward Looking Statements
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; interest rates; disruptions, uncertainty or volatility in the credit markets that may limit our access to capital; currency exchange rates and devaluations, including in highly inflationary countries such as Venezuela; 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 Form 10-K.
Director, Investor Relations