Lincoln Electric

Last updated

Lincoln Electric Holdings, Inc.
Company type Public
Industry Manufacturing
Founded1895;129 years ago (1895)
Founder John C. Lincoln
Headquarters Euclid, Ohio, US
Area served
Worldwide
Key people
Chris Mapes (president and chief executive officer)
Products
RevenueIncrease2.svg US$3.76 billion (2022)
Increase2.svgUS$612 million (2022)
Increase2.svgUS$472 million (2022)
Total assets Increase2.svgUS$3.18 billion (2022)
Total equity Increase2.svgUS$1.03 billion (2022)
Number of employees
c. 12,000 (2022)
Website lincolnelectric.com
Footnotes /references
[1]

Lincoln Electric Holdings, Inc. is an American multinational and global manufacturer of welding products, arc welding equipment, welding accessories, plasma and oxy-fuel cutting equipment and robotic welding systems headquartered in Euclid, Ohio. It has a worldwide network of distributors and sales offices covering more than 160 countries and 42 manufacturing locations in North America, Europe, Middle East, Asia and Latin America. It also operates manufacturing alliances and joint ventures in 19 countries. [2] It is a member of the Fortune 1000.

Contents

History

The company was founded in 1895 by John C. Lincoln with an investment of $200 to make electric motors he had designed. [3]

The company is headquartered in Euclid, Ohio, and has 44 manufacturing locations, including operations and joint ventures in 19 countries and an international network of distributors and sales offices covering more than 160 countries. [4]

Lincoln has over 8,500 employees globally, including 3,000 in the United States. In 2005, Lincoln's Electric acquired the Harris Products Group, which is a manufacturer of welding accessories, gas apparatus, and other specialty products. [5] The Harris Products Group has manufacturing facilities in Georgia, Ohio, California, Poland, Mexico, Brazil and Italy. [6]

Since 1951, Lincoln Electric has guaranteed employment with hours cut during hard times and overtime required during good times. [7] [8]

In 2019, Lincoln announced the acquisition of Worthington Industries, Inc. a metal manufacturing company. [9]

In December 2023, Lincoln Electric unveiled the Velion DC fast electric vehicle charging station. A display unit was shown at CES 2024 and featured NACS and CCS1 charging plugs, along with a touchscreen user interface developed using Qt.

Lincoln Foundation

The J.F. Lincoln Foundation is a non-profit, welding education organization founded in 1936 to promote welding as a better method of joining metals and to promote welding as a career choice. It is the only organization in the United States solely dedicated to educating the public about the art and science of arc welding. Formed when the arc welding industry was in its infancy, the Foundation publishes educational texts and grants cash awards to recognize technical achievements. [10]

Lincoln Institute of Land Policy

The Lincoln Institute of Land Policy was established by Lincoln Electric's founder, John C. Lincoln, in 1946, based on his admiration for the work of Henry George. Today, the think tank still focuses on promoting "creative approaches to land as a solution to economic, social, and environmental challenges." [11]

Lincoln Welding School

The Lincoln Electric Welding School was set up in 1917, and has since instructed over 150,000 men and women [12] in the various methods and techniques of safety and arc welding processes. The school is listed by the Ohio State Board of School and College Registration. [13]

See also

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References

  1. ↑ "Lincoln Electric Holdings, Inc. 2022 Annual Report (Form 10-K)". U.S. Securities and Exchange Commission. February 21, 2023.
  2. ↑ "Lincoln Worldwide". www.lincolnelectric.com.
  3. ↑ "Company History". www.lincolnelectric.com.
  4. ↑ "Company History | Lincoln Electric". www.lincolnelectric.com. Retrieved August 29, 2023.
  5. ↑ LECOS, Lincoln Electric "The Welding Experts"Type PublicTraded as NASDAQ; Euclid, P. 400 ComponentIndustry ManufacturingFounded 1895Founder John C. LincolnHeadquarters; employees 10, OhioArea served WorldwideKey people Chris MapesProducts Arc welding equipmentRevenue US$2 69 billionOperating income US$296 millionNet income US$217 millionTotal assets US$1 98 billionTotal equity US$1 18 billionNumber of; http://www.lincolnelectric.com, 000+Website. "Lincoln Electric". b2b.partcommunity.com. Retrieved August 29, 2023.{{cite web}}: External link in |last4= (help)CS1 maint: numeric names: authors list (link)
  6. ↑ "Locations". www.harrisproductsgroup.com. Retrieved August 29, 2023.
  7. ↑ "At Lincoln Electric, a Leading Maker of Welding Machines, Jobs Are Guaranteed". ABC News. Retrieved January 3, 2022.
  8. ↑ Colvin, Geoff (July 19, 2023). "A $12 billion manufacturing powerhouse has avoided layoffs for 70 years while dominating its industry—but good luck replicating its formula". Fortune.
  9. ↑ "Lincoln Electric acquires soldering business of Worthington Industries". News-Herald. January 5, 2019. Retrieved July 28, 2023.
  10. ↑ "Page Not Found". www.lincolnelectric.com.{{cite web}}: Cite uses generic title (help)
  11. ↑ "About the Lincoln Institute". LILP.
  12. ↑ https://www.lincolnelectric.com/en-za/education-center/welding-school/pages/welding-school.aspx 150,000 men and women
  13. ↑ "Page Not Found". www.lincolnelectric.com.{{cite web}}: Cite uses generic title (help)

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