SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 1, 2019
LINCOLN ELECTRIC HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
(State or other jurisdiction
22801 St Clair Avenue
Cleveland, Ohio 44117
(Address of principal executive offices, with zip code)
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Name of exchange
on which registered
|Common Shares, without par value||LECO||The NASDAQ Stock Market LLC|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 8.01.|| |
On July 1, 2019, Lincoln Electric Holdings, Inc. (the Company) completed the previously announced acquisition of the controlling stake of Kaynak Tekniği Sanayi ve Ticaret A.Ş. (Askaynak), a supplier and manufacturer of welding consumables, arc welding equipment, including plasma and oxy-fuel cutting equipment, and robotic welding systems located in Turkey.
A copy of the press release issued by the Company on July 1, 2019 is attached hereto as Exhibit 99.1. The press release is also available on the Companys website at www.lincolnelectric.com.
|Item 9.01.|| |
Financial Statements and Exhibits.
|99.1||Press Release dated July 1, 2019 announcing the closing of the Companys acquisition of Askaynak.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|LINCOLN ELECTRIC HOLDINGS, INC.|
|Date: July 1, 2019||By:|
|Jennifer I. Ansberry, Executive Vice President, General Counsel & Secretary|
L I N C O L N E L E C T R I C H O L D I N G S , I N C .
22801 Saint Clair Avenue Cleveland, Ohio 44117 U.S.A.
N E W S R E L E A S E
LINCOLN ELECTRIC COMPLETES PURCHASE OF THE CONTROLLING STAKE IN ASKAYNAK
Advances Regional Growth Strategy
CLEVELAND, Monday, July 1, 2019 Lincoln Electric Holdings, Inc., (the Company) (Nasdaq: LECO) announced today it has completed the purchase of the controlling stake of Kaynak Tekniği Sanayi ve Ticaret A.Ş. (Askaynak) to advance Lincoln Electrics 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 Chief Executive Officer 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.
As previously disclosed, Askaynak is located in Turkey and is the countrys leading supplier and manufacturer of welding consumables, arc welding equipment, including plasma and oxy-fuel cutting equipment, and robotic welding systems. Askaynak generates approximately USD$70 million in annual revenue.
Terms of the transaction were not disclosed.
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 60 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric and its products and services, visit the Companys website at www.lincolnelectric.com.
Vice President, Investor Relations & Communications