Lincoln Electric Holdings Inc has acquired SPAWMET Sp. z.o.o., a privately held manufacturer of stick electrode products. The company expects that the acquisition will not have a material impact on earnings in the first year.
John M Stropki, Lincoln's chairman and chief executive officer, said, “This acquisition provides Lincoln with an excellent portfolio of stick electrode products, which will help us pursue our growth strategy for the distribution markets in Eastern Europe. Moreover, the extensive distribution network of SPAWMET will enhance Lincoln's overall market position in Poland.”
SPAWMET is headquartered near Katowice, Poland.