Lincoln Electric Holdings has announced the company has entered into a majority-owned joint venture with Zhengzhou Heli Welding Materials, a privately held manufacturer of subarc flux based in Zhengzhou, China. Submerged arc wire and flux are used for welding applications in heavy construction, pipe mills, the energy sector and other infrastructure-related segments.
The joint venture will manufacture subarc flux and subarc wire in Zhengzhou. Annual sales for Zhengzhou Heli are approximately $8 million.
Lincoln has also acquired the assets and business of Vernon Tool Company, a privately-held manufacturer of computer-controlled pipe cutting equipment used for precision fabrication purposes. Based in San Diego, California, Vernon Tool provides solutions to difficult pipe fabrication and process flow issues in industrial construction, as well as heavy fabrication uses in the infrastructure and energy-related segments. Two of the current owners of Vernon Tool will remain with the company. Vernon Tool’s annual sales are approximately $9 million.
Lincoln Electric expects the acquisitions will not have a material impact on earnings in the first year.
For more information visit www.lincolnelectric.com.
