Lincoln Electric makes acquisition in San Diego
Cleveland-based welding equipment company Lincoln Electric has announced the acquisition of Vernon Tool, a San Diego-based maker of computer-controlled pipe cutting equipment for the professional market.
Terms of the deal were not disclosed. Vernon Tool had 2006 sales of $9 million.
"Vernon Tool is a solid company, and we are pleased that its experienced management team will be joining Lincoln as we add the company's product line to Lincoln's product offering," said John Stropki, chairman and CEO of Lincoln Electric. "This acquisition adds to Lincoln's ability to support its customers in the growing market for infrastructure development."
Lincoln has 36 manufacturing locations, including operations, manufacturing alliances and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries.