Lincoln Electric buys Techalloy and Torchmate
August 18, 2011 by Manufacturing AUTOMATION
Lincoln Electric Holdings, Inc. has announced two acquisitions. The company purchased the welding operation assets of Techalloy Company, Inc. and its parent company, Central Wire Industries Ltd. Known commercially as Techalloy, the Baltimore, Md.-based manufacturer is a privately held producer of nickel alloy and stainless steel welding consumables.
“The addition of Techalloy expands our product portfolio of high alloy consumables required to service customers in North America and around the world,” said John M. Stropki, chairman and chief executive officer. “In particular, Techalloy’s nickel alloy welding consumables are positioned well globally in the high growth energy and infrastructure segments of our business. We expect growth in these segments to continue worldwide, and believe the Techalloy product line will help expand and deepen our relationships with these key customers.”
Techalloy has annual sales of approximately $70 million and employs 55 people. Terms of the deal were not disclosed.
The company has also acquired substantially all of the assets of Applied Robotics, Inc., a leading manufacturer of CNC cutting tables and accessories in North America. Applied Robotics, known in the welding industry by its brand name, Torchmate, has headquarters and manufacturing facilities based in Reno, Nev.
Torchmate offers a wide selection of CNC plasma and oxyfuel cutting tables and systems to small and medium-sized fabricators. The company’s previous 12 months of sales were approximately $13 million, and Torchmate currently employs 44 people. Terms of the deal were not disclosed.
“Metal cutting is closely aligned with arc welding, and the addition of Torchmate will bolster our ability to provide cutting process solutions for our customers,” said Stropki. “Torchmate’s CNC plasma cutting tables provide an economic option to cutting solutions required by many metal fabricators. The Torchmate product offering will enhance existing cutting options for Lincoln Electric’s customers here in North America and around the world.”
Lincoln Electric designs, develops and manufactures arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment. Headquartered in Cleveland, Ohio, Lincoln has 41 manufacturing locations, including operations and joint ventures in 19 countries, and a worldwide network of distributors and sales offices covering more than 160 countries.