Nov 20 2013
Lincoln Electric Holdings, Inc. announced today that it has entered into a definitive agreement to acquire Robolution GmbH, a leading European provider of robotic arc welding systems. Based outside of Frankfurt, Germany, the company serves a number of leading automotive OEMs and Tier 1 suppliers.
"Robolution expands the geographic reach of our growing automation business," said Christopher L. Mapes, Chief Executive Officer. "With our recent acquisitions of Wayne Trail and Tennessee Rand, and our new greenfield facility in Brazil, Robolution will enable us to seamlessly support customers across three continents."
"We are pleased to partner with Lincoln Electric," said Wolfgang Koenig, Managing Director of Robolution. "Lincoln's financial strength and worldwide reach will enable us to better serve new and existing customers across our growing business."
The transaction is expected to close by the end of the month and terms 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 45 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.
Source: http://www.lincolnelectric.com/