Lincoln Electric Acquires Tennessee Rand
Jan 2, 2013 1:40 PM
Lincoln Electric Holdings, Inc. (Nasdaq: LECO) has acquired the privately-held automated systems and tooling manufacturer, Tennessee Rand, Inc.
Tennessee Rand is a leader in the design and manufacture of tooling and robotic systems for welding applications. The company serves a wide base of automotive and metal fabrication customers.
"Tennessee Rand strengthens our already strong position as a market leader in welding automation in North America," said Christopher L. Mapes, Chief Executive Officer. "Tennessee Rand brings extensive tool design, system building, and machining capabilities that will enable Lincoln to further expand its welding automation business. It is a nice complement to our recent acquisition of Wayne Trail Technologies."
"Lincoln's market strength and worldwide reach enable Tennessee Rand to expand its business and support customers with global deployment strategies," said Don Peters, President of Tennessee Rand. "We are pleased to now be a part of Lincoln Electric."
Tennessee Rand, Inc., with headquarters and manufacturing operations in Chattanooga, Tennessee, has annual sales of approximately $35 million. Terms were not disclosed.
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