LINCOLN ELECTRIC HOLDINGS INC acquired Mezhgosmetiz-Mtsensk OAO (MGM) for Not disclosed (annual sales ~$30 million), a transaction completed in October 2010.
Mezhgosmetiz-Mtsensk OAO (MGM) operates in International / Consumables (Russia/CIS), is based in Orel region, Russia (Russia/CIS), had revenue of about approximately $30 million annual sales. Mezhgosmetiz-Mtsensk OAO ('MGM') is a privately held welding wire manufacturer based in the Orel region of Russia, with annual sales of approximately $30 million and over 200 employees. The deal provided Lincoln its first manufacturing operation in Russia plus established distribution channels for the Russian and CIS welding markets.
MGM's broad line of premium quality solid wire and stick electrode products, combined with an extensive distribution network, complements Lincoln's imported products offering and significantly expands its commercial presence in the growing Russian/CIS region.
Lincoln's first Russian manufacturing operation with premium wire/electrode lines and CIS distribution. Lincoln Electric Russia/CIS consumables
Lincoln already has solid brand recognition and market presence in Russia through imports of our high technology welding products for the energy and infrastructure segments. MGM, with its broad line of premium quality solid wire and stick electrode product offerings, combined with an extensive distribution network, will complement our imported products offering and significantly expand our commercial presence in the region.John M. Stropki, Chairman and CEO, Lincoln Electric
Advisory firms were not disclosed for this transaction.