By Joanna Sampson2019-07-03T08:05:00+01:00
Welding product manufacturer Lincoln Electric has completed the purchase of the controlling stake of Kaynak Teknigi Sanayi ve Tecaret (Askaynak
The company said the new acquisition will advance its regional growth strategy in Europe, the Middle East and Africa.
“We are pleased to welcome the Askaynak team into Lincoln Electric,” stated Christopher L. Mapes, Chairman, President and CEO of Lincoln Electric.
“Askaynak strengthens our position in the region and as one team; we will serve our customers with innovative solutions, superior service, and deliver operational excellence.”
Terms of the transaction were not disclosed.
Located in Turkey, Askaynak is the country’s leading supplier and manufacturer of welding consumables, arc welding equipment, including plasma and oxy-fuel cutting equipment and robotic welding systems.
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