Lincoln Asia Pacific acquires Jinzhou welding wire business

Lincoln Electric Company (Asia Pacific) Pte Ltd (Lincoln Asia Pacific), the Asian subsidiary Lincoln Electric Holdings Inc., has acquired 100% control of Jinzhou Jin Tai Welding and Metal Co. Ltd (Jin Tai), a welding wire business in Jinzhou. Lincoln Asia Pacific had owned 48% of Jin Tai, and the remaining 52% was held by Taiwan-based Kuang Tai Metal Industrial Co. Ltd and other partners. Lincoln Asia Pacific acquired Jin Tai by exchanging its 35% ownership interest in Kuang Tai, paying cash of about $39 million and assuming net debt of around $10 million. The purchase price is subject to final postclosing adjustments. John M. Stropki, chairman and CEO said that Jin Tai will greatly expand their customer base, bring experienced industry management talent into the company's Asian organization and add significant cost - competitive MIG wire manufacturing capacity.ADIDAS