LINCOLN ELECTRIC HOLDINGS INC acquired OOO Severstal-metiz: welding consumables (from OAO Severstal) for Not disclosed (2010 estimated sales ~$40 million USD), a transaction completed in January 2011.
OOO Severstal-metiz: welding consumables (from OAO Severstal) operates in International / Consumables (Russia/CIS), is based in Orel, Russia (Russia/CIS), had revenue of about 2010 estimated sales approximately $40 million USD. OOO Severstal-metiz: welding consumables is a leading manufacturer of welding consumables in Russia and a subsidiary of OAO Severstal, with production facilities in Orel, Russia and 283 employees; 2010 estimated sales approximately $40 million USD. The transaction included manufacturing operations and exclusive distribution rights of the Severstal brand of welding consumables.
The acquisition adds manufacturing capacity in a fast-growing market and complements Lincoln's recent Mezhgosmetiz-Mtsensk (MGM) Russian acquisition, making Lincoln a leading consumables manufacturer in the CIS countries and expanding its market presence in the region.
Russian welding-consumables manufacturing plus exclusive Severstal-brand distribution to lead the CIS market. Lincoln Electric Russia/CIS consumables
This acquisition will add to our manufacturing capacity in this fast growing market and complement Mezhgosmetiz-Mtsensk OAO ('MGM'), our recent Russian acquisition. Severstal's extensive stick electrode offering, along with solid wire and flux cored wire products, when combined with solid wire products from MGM, will make Lincoln Electric a leading consumables manufacturer in the CIS countries.John M. Stropki, Chairman and CEO, Lincoln Electric
The sale of OOO Severstal-metiz: welding consumables will allow us to concentrate fully on our core business (wire and wire products) and continue to provide our clients with competitive product of the highest quality.Oleg Veter, CEO, Severstal-metiz group
Advisory firms were not disclosed for this transaction.