CLEVELAND — Lincoln Electric Holdings, Inc. (Nasdaq: LECO) announced Monday that it has acquired Easom Automation Systems, Inc., a privately held integrator and manufacturer of automation and positioning solutions, serving heavy fabrication, aerospace and automotive OEMs and suppliers.
"Our investment in Easom advances our leadership position in automated welding and cutting," said Christopher L. Mapes, Chairman and Chief Executive Officer. "Easom is a strong partner for us as our complementary strengths create a compelling offering for our customers and accelerates our market presence in attractive applications."
"We are excited about joining Lincoln Electric as they share our commitment to help customers achieve superior operational efficiency and improve profitability through automated solutions," added Reg Kelley, President of Easom Automation Systems, Inc.
Easom Automation Systems, Inc., with headquarters and operations in Detroit, Michigan, has annual sales of approximately $30 million.
Terms of the transaction were not disclosed.
Lincoln Electric is a 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.