Cleveland-based Lincoln Electric Holdings, Inc. has acquired Weartech International, Inc., a privately-held producer of cobalt-based hard facing and wear-resistant welding consumables, and is targeting future strong growth in the energy and process chemical segments as a result.
Weartech is headquartered in Anaheim, CA, with manufacturing plants in Anaheim and Port Talbot, Wales. The company has annual sales of approximately $40 million and employs 140 people combined at both locations.
In announcing the acquisition, John M. Stropki, Lincoln Electric chairman and CEO, said, “The acquisition of Weartech is a continuation of our ongoing strategy to expand the breadth of our consumable product portfolio to better service our global customer base.”
“Weartech is well positioned globally in the specialized cobalt welding consumable market, selling primarily to the high growth energy and process chemical segments. We expect strong growth in these segments and believe the Weartech product line will help expand and deepen our relationships with key global customers.”