Ray Hoglund, chief executive officer of ESAB Group, said ESAB will remain an independent entity, with a mission to provide cost-effective solutions for its welding and cutting applications. Hoglund's statements came after the announcement of Lincoln Electric's failed takeover bid of ESAB's parent company, Charter plc.
He mentioned attributes that made Charter a likely target for Lincoln's attempt, including ESAB's worldwide status as a welding brand. He also spoke of ESAB's positioning in markets like Poland, the Czech Republic, Hungary, Korea, Brazil, Indonesia, and India.
Hoglund said ESAB will continue to expand its product range.