Supplier Directory Subscribe
Advertisement
Home / Lincoln Electric Purchases Controlling Stake of Askaynak

Lincoln Electric Purchases Controlling Stake of Askaynak

This deal advances their regional growth strategy in Europe, the Middle East and Africa.

Advertisement
Advertisement

Lincoln Electric Holdings, Inc. (Cleveland, OH) completed the purchase of the controlling stake of Kaynak Teknigi Sanayi ve Ticaret A.S. (Askaynak; Çayırova, Turkey) to advance their regional growth strategy in Europe, the Middle East and Africa. “We are pleased to welcome the Askaynak team into our company,” stated  Christopher L. Mapes, the chairman, president and chief executive officer of Lincoln Electric. “They strengthen our position in the region and as one team; we will serve our customers with innovative systems, superior service, and deliver operational excellence.”

Askaynak is Turkey’s leading supplier and manufacturer of welding consumables, arc welding equipment, including plasma and oxy-fuel cutting equipment, and robotic welding systems. Askaynak generates approximately USD$70 million in annual revenue. Terms of the transaction were not disclosed.

www.lincolnelectric.com

0 Comments

Leave a Comment:

Calendar & Events
AmCon Orlando
April 27 - 28, 2021
Orange County Convention Center – Orlando, FL
Greater Chicago Design-2-Part Show
August 3 - 4, 2021
Schaumburg Convention Center – Schaumburg, IL
MD&M West
August 10 - 11, 2021
Anaheim, CA
rapid + tct
September 13 - 15, 2021
Chicago, IL
FABTECH
September 13 - 16, 2021
Chicago, IL
Wisconsin Manufacturing & Technology Show
October 5 - 7, 2021
West Allis, WI
Advertisement
Advertisement
Advertisement
Advertisement