USA welding company acquires Polish MMA firm

US welding equipment holding company, Lincoln Electric Holdings, has acquired Spawmet, which is a privately owned manufacturer of manual metal arc welding electrodes.

Lincoln Electric Holdings has acquired Spawmet, a privately held manufacturer of stick electrode (MMA) products.

The company expects that the acquisition will not have a material impact on earnings in the first year.

"We are very pleased to add the Spawmet product line and strong personnel team to Lincoln's product offering and distribution network in Europe," said John M Stropki, chairman and chief executive officer.

"This acquisition provides Lincoln with an excellent portfolio of stick electrode products, which will help us pursue our growth strategy for the distribution markets in Eastern Europe.

Moreover, the extensive distribution network of Spawmet will enhance Lincoln's overall market position in Poland." Headquartered near Katowice, Poland, Spawmet's annual sales are approximately US$5 million.

* 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 oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market.

Headquartered in Cleveland, Ohio, USA, Lincoln has 35 manufacturing locations, including operations, manufacturing alliances and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries.

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