Lincoln Electric acquires Jin Tai Welding and Metal

The Lincoln Electric Co. (Asia Pacific) has acquired 100% control of Jinzhou Jin Tai Welding and Metal (Jin Tai), a welding wire business in Jinzhou, China. Lincoln Asia Pacific previously owned a 48% stake in Jin Tai.

Offshore staff

CLEVELAND, Ohio -- The Lincoln Electric Co. (Asia Pacific) has acquired 100% control of Jinzhou Jin Tai Welding and Metal (Jin Tai), a welding wire business in Jinzhou, China. Lincoln Asia Pacific previously owned a 48% stake in Jin Tai. The remaining 52% interest was held by partners including Kuang Tai Metal.

Lincoln Asia Pacific acquired Jin Tai by exchanging its 35% ownership interest in Kuang Tai, paying cash of approximately $39 million, and assuming net debt of approximately $10 million. The purchase price is subject to final post-closing adjustments.

07/31/2009

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