CLEVELAND, Aug. 4, 2015 /PRNewswire/ -- Lincoln
Electric Holdings, Inc. (Nasdaq: LECO) announced today that it has
acquired Rimrock Holdings Corporation, a privately held
manufacturer and integrator of industrial automation products and
robotic systems with two divisions, Wolf Robotics LLC and Rimrock
Corporation. Wolf Robotics integrates robotic welding and
cutting systems predominately for heavy fabrication (construction,
mining, agriculture) and transportation OEMs and suppliers.
Rimrock Corporation designs and manufactures automated spray
systems and turnkey robotic systems for the die casting, foundry
and forging markets.
"Our investment in Wolf Robotics extends our leadership position
in automated welding and cutting," said Christopher L. Mapes, Chairman, President and
Chief Executive Officer. "We are excited to combine their expertise
and capabilities as a leading automation integrator in the North
American heavy fabrication sector with our existing portfolio to
better serve customers and accelerate growth."
Rimrock Holdings Corporation is headquartered in Columbus, Ohio and has operations in
Columbus, Ohio and Fort Collins, Colorado. 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 47 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.
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
post-acquisition integration efforts; and market risks and price
fluctuations related to the purchase of commodities and energy. For
additional discussion, see "Item 1A. Risk Factors" in the Company's
Annual Report on Form 10-K.
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SOURCE Lincoln Electric Holdings, Inc.