Air Liquide enters into exclusive negotiations with Lincoln Electric to sell its Air Liquide Welding subsidiary

March 2, 2017

Air Liquide announces it has entered into exclusive negotiations with Lincoln Electric Holdings, Inc. (“Lincoln Electric”) (Nasdaq: LECO), the world leader in design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment, to sell Air Liquide Welding, its subsidiary specializing in the manufacture of welding and cutting technologies.

The transaction is subject to the final and definitive agreement between the parties and customary conditions and provisions, in particular the “information-consultation” process with the employee representative bodies and the competition authorities’ approval.

Air Liquide is focused on its Gas & Services activities following the acquisition of Airgas, as well as on the implementation of its company program NEOS for the 2016-2020 period.

 

Air Liquide’s subsidiary, Air Liquide Welding is a key player in the manufacturing of welding and cutting technologies. Air Liquide Welding, which has approximately 2,000 employees across the world, has generated in 2016 a turnover around €350 million. It offers, through several internationally well known brands (SAF-FRO and OERLIKON in the industrial field, CEMONT for professionals…), a large range of related equipment, consumables and services on the market.

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. In 2016, Lincoln Electric generated $2.3 billion in revenue. For more information about Lincoln Electric and its products and services, visit the Company's website at www.lincolnelectric.com.

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