CLEVELAND – Lincoln Electric, the world’s leading manufacturer of welding solutions is celebrating its 115th year anniversary in 2010. Throughout the welding industry, Lincoln is best known for its rugged and innovative machines and consumables, which combined with application know-how, help customers excel at making globally competitive products.
Outside of welding circles, Lincoln has been the most studied Harvard Business School case due to its long held incentive management philosophy. Manufacturing, engineering and selling excellence in a focused industry, combined with unique and forward-thinking employee practices, have created a winning formula for the Company, its employees and its shareholders.
In 1895, John C. Lincoln founded the Company with a capital investment of $200. His younger brother, James F. Lincoln joined the Company in 1907, and together the two brothers built a solid foundation of corporate values that still drive Lincoln Electric today.
Throughout its 115 years, the Company has pioneered scores of technology innovations, starting with the world’s first variable voltage welding machine in 1911. Today’s revolutionary software-driven Power Wave® inverter-driven welding power sources, coupled with engineered consumables, have reinvented welding by providing every industrial segment with customized weld integrity that satisfies their most stringent requirements.
“We hold the same values today that John C. Lincoln held that day in 1895 when the Company first opened for business,” said John M. Stropki, Chairman and Chief Executive Officer. “As we celebrate our 115th anniversary as the leading innovator in the arc welding industry, we maintain our enduring passion for the development and application of welding technologies that constantly provide better solutions to our customers’ needs.”
Lincoln Electric continues to strategically update and expand its product lines. Last year saw the arc welding industry’s most aggressive new product launch ever with Lincoln introducing 108 new products over a nine-month period.
The Company continues to strategically grow its global market and manufacturing presence. In 2009 it opened a new state-of-the-art welding consumables plant in India, expanded its position and product offering in China through the acquisition of Jinzhou Jin Tai Welding and Metal Co., Ltd., and dedicated a 100,000-square-foot Automation Center of Excellence adjacent to its world headquarters in Cleveland, Ohio.
Today, Lincoln Electric is a publicly held company listed on NASDAQ, stock symbol “LECO,” with manufacturing locations, including operations and joint ventures, on five continents, and a worldwide network of distributors and sales offices covering more than 160 countries.
Lincoln Electric, headquartered in Cleveland, Ohio, is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, fume extraction equipment and plasma and oxyfuel cutting equipment. The Company also holds a leading global position in the brazing and soldering alloys market. For more information, visit its website at www.lincolnelectric.com.