About Lincoln Electric Holdings Inc

Lincoln Electric Holdings, Inc. operates as a worldwide broad-line manufacturer of welding, cutting and brazing products. The company is the world leader in the design, development and manufacture of arc welding products, automated joining, assembly and cutting systems, plasma and oxy-fuel cutting equipment. The company also has a leading global position in brazing and soldering alloys. The company’s products include arc welding, brazing and soldering filler metals (consumables), arc welding equipment, plasma and oxyfuel cutting systems, wire feeding systems, fume control equipment, welding accessories, specialty gas regulators, and education solutions, as well as a comprehensive portfolio of automated solutions for joining, cutting, material handling, module assembly, and end of line testing. The arc welding power sources and wire feeding systems manufactured by the company range in technology from basic units used for light manufacturing and maintenance to highly sophisticated robotic applications for high volume production welding and fabrication. Three primary types of arc welding consumables are produced: (1) coated manual or stick electrodes; (2) solid wire produced in coil, reel or drum forms for continuous feeding in mechanized welding; and (3) cored wire produced in coil form for continuous feeding in mechanized welding. The company has, through wholly-owned subsidiaries, manufacturing facilities located in the United States, Australia, Austria, Brazil, Canada, China, Colombia, France, Germany, India, Italy, Mexico, Poland, Portugal, Romania, Russia, South Korea, Spain, Turkey and the United Kingdom. Segments The company’s business units are aligned into three operating segments. The operating segments consist of Americas Welding, International Welding, and The Harris Products Group. The Americas Welding segment includes welding operations in North and South America. The International Welding segment includes welding operations in Europe, Africa, Asia and Australia. The Harris Products Group includes the company’s global cutting, soldering and brazing businesses, specialty gas equipment, as well as the retail business in the United States. Customers The company’s products are sold in both domestic and international markets. In the Americas, products are sold principally through industrial distributors, retailers and also directly to users of welding products (OEMs, manufacturers and integrators). Outside of the Americas, the company has an international sales organization consisted of company employees and agents who sell products from the company’s various manufacturing sites to distributors and product users. The company’s major end-user markets include general fabrication, energy (oil and gas, power generation and process industries), heavy industries (heavy fabrication, ship building, and maintenance and repair), automotive and transportation, and construction and infrastructure. Seasonality The company experiences some variability in reported period-to-period results as historical demand for the company’s products is mildly seasonal with generally higher demand in the second and third quarters (year ended December 2023). Strategy The company continues to pursue strategies to heighten its competitiveness in domestic and international markets, which include positioning low cost manufacturing facilities in most geographical markets. The company introduces its products to new users and to establish and maintain close relationships with its customers. This close relationship between the technical sales force and the direct customers, together with its supportive relationship with its distributors, who are particularly interested in handling the broad range of the company’s products, is an important element of the company’s market success and a valuable asset of the company. Environmental Regulations The company is ISO 14001 certified at most significant manufacturing facilities in North America and Europe and is progressing towards certification at its remaining facilities worldwide. In addition, the company is ISO 9001 certified at 46 facilities worldwide. The company ensures compliance, as well as the continuous improvement of the environmental performance of its products and operations through its global Environmental, Health, Safety and Quality (EHS&Q) systems. The company’s systems are guided by Corporate EHS&Q Policy, global directives and corporate standards that establish consistent guidelines for the management, measurement and reporting of environmental, health and safety activities, as well as quality across the company’s global platform. The company’s products support its customers' sustainability initiatives through enhanced worker safety, reduced emissions, improved energy efficiency, reduced waste and regulatory compliance. International Operations The company conducts a significant amount of its business and has a number of operating facilities in countries outside the United States. Research and Development The company’s research and development costs totaled $71,235 in 2023. History Lincoln Electric Holdings, Inc. was founded in 1895. The company was incorporated under the laws of the state of Ohio in 1906.