Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Form 8-K

 

 

Current Report

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)

 

 

 

 

Ohio   0-1402   34-1860551

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

22801 St Clair Avenue

Cleveland, Ohio 44117

(Address of principal executive offices, with zip code)

(216) 481-8100

(Registrant’s 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

 

Trading

Symbol(s)

 

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.

Other Events.

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 Company’s website at www.lincolnelectric.com.

 

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

99.1    Press Release dated July 1, 2019 announcing the closing of the Company’s acquisition of Askaynak.


SIGNATURES

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:  

/s/ Jennifer I. Ansberry

      Jennifer I. Ansberry, Executive Vice President, General Counsel & Secretary
EX-99.1

Exhibit 99.1

 

LOGO

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 Electric’s 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 country’s 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.

Business

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 Company’s website at www.lincolnelectric.com.

Contact

Amanda Butler

Vice President, Investor Relations & Communications

Tel: 216.383.2534

Email: Amanda_Butler@lincolnelectric.com