Lincoln Electric Reports Fire Damage To Its Techalloy Facility
CLEVELAND, May 14, 2013 /PRNewswire/ — Lincoln Electric Holdings, Inc. (“Lincoln Electric,” “the Company”) (Nasdaq: LECO) reported today that a fire occurred at its Techalloy(®) welding consumables operation in Baltimore, Maryland.
While the fire has caused the loss of a portion of the facility’s manufacturing capacity, the Company is working to satisfy customer requirements and prevent supply disruptions. Although the Company has duplicate manufacturing capabilities across its global platform, the Company cannot estimate the financial impact the fire will have on its financial statements at this time.
About Lincoln Electric
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 45 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric and its products and services, visit the Company’s website at http://www.lincolnelectric.com.
The Company’s expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management’s current expectations and involve a number of risks and uncertainties. Forward-looking statements generally can be identified by the use of words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “forecast,” “guidance” or words of similar meaning. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company’s operating results. The factors include, but are not limited to: general economic and market conditions; the effectiveness of operating initiatives; applicable insurance; and the possible effects of events beyond our control, such as political unrest, acts of terror and natural disasters, on the Company or its customers, suppliers and the economy in general. For additional discussion, see “Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K.
SOURCE Lincoln Electric Holdings, Inc.