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|Lincoln Electric Signs Definitive Agreement to Acquire Air Liquide Welding|
"We are excited at the prospect of joining two leading welding and cutting organizations together who are dedicated to delivering best-in-class engineered solutions," said
Proposed Acquisition Details
The definitive agreement reflects a €115 million (approximately
The Proposed Acquisition is subject to customary regulatory approvals and other closing conditions and is expected to close in the second half of 2017. Until the Proposed Acquisition closes,
For additional information regarding this Proposed Acquisition, please visit Lincoln Electric's investor relations website at: http://ir.lincolnelectric.com.
The conference call will be webcast live, and the webcast, as well as the accompanying presentation materials, can be accessed on the Company's Investor Relations home page at http://ir.lincolnelectric.com. Listeners should go to the web site prior to the call to register and download and install any necessary audio software. Investors who are unable to access the webcast may listen to the conference call live via telephone by dialing (877) 344-3899 (domestic) or (315) 625-3087 (international) and should use confirmation code 14202988. Telephone participants are asked to dial in 10 to 15 minutes prior to the start of the conference call.
A replay of the call will be available via webcast on the Company's website.
About Air Liquide Welding
Air Liquide's subsidiary, Air Liquide Welding, is a key player in the manufacturing of welding and cutting technologies. Air Liquide Welding has approximately 2,000 employees across the world and generated approximately €350 million in 2016 sales. It offers, through several internationally well-known brands (SAF-FRO and OERLIKON in the industrial field, CEMONT for professionals), a large range of related equipment, consumables and services in the market.
The Company's expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties that could cause actual events or results to differ materially from those expressed or implied. Forward-looking statements generally can be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "believe," "forecast," "guidance" or words of similar meaning. These risks include our ability to successfully complete the Proposed Acquisition, including the receipt of required regulatory approvals and the satisfaction or waiver of other closing conditions; our ability to successfully integrate Air Liquide Welding; our ability to achieve the expected growth and efficiencies from the Air Liquide Welding acquisition; and the Air Liquide Welding acquisition being accretive to earnings and generating attractive return on capital, within the expected time frame or at all. For additional discussion of risk factors, see "Item 1A. Risk Factors" in the Company's Annual Report on Form 10-K for the year ended