Cleveland, OH-based Lincoln Electric and Paris, France-based Air Liquide both announced Thursday that the companies have signed a memorendum of understanding and entered into negotiations for Lincoln Electric to acquire Air Liquide subsidiary Air Liquide Welding.
The proposed acquisition is subject to a definitive agreement with conditions and provisions, and no terms were given. The companies' brief news release stated that there is no guarantee that a transaction will occur.
Air Liquide said that following its $13.4 billion acquisition of Airgas (No. 7 on ID's Big 50 List), it is focused on its gas and services activities, along with the implementation of its NEOS company program for the 2016-2020 period.
Lincoln Electric designs, develops and manufacturers arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment. Lincoln Electric has 47 manufacturing locations, including operations in 19 countries. In 2016, Lincoln Electric had $2.3 billion in sales.
Air Liquide Welding has approximately 2,000 employees worldwide and generated a 2016 turnover of about $370 million.