By Cameron Chai
Lincoln Electric, headquartered in Cleveland, Ohio, announced the acquisition of Techalloy, a privately-held company based in Baltimore, Maryland. Techalloy is a manufacturer of stainless steel and nickel alloy welding consumables. Lincoln Electric purchased Techalloy’s welding operation assets as well as assets of Central Wire Industries, parent company of Techalloy.
Chairman and CEO of Lincoln Electric, John M. Stropki stated that the acquisition expands Lincoln Electric’s product line of high alloy consumables and enables the company to better serve its North American and global customers. The nickel alloy products from Techalloy have gained superior global position in the growing global infrastructure and energy business segments. Lincoln Electric expects continuous growth of these segments and Techalloy’s product portfolio of welding consumables will help to extend the company’s relationship with the customers in these segments.
Lincoln Electric designs, develops and manufactures oxyfuel and plasma cutting equipment, robotic arc welding systems and arc welding products. The company is also a leader in the soldering and brazing alloys market. Lincoln Electric operates 41 manufacturing sites that include joint ventures and operations in 19 countries. It also has a global network of sales offices and distributors covering over 160 countries.
Source: http://www.lincolnelectric.com/