The 2020 Mid-Year Economic Update_long

Lincoln Electric Acquires Intellectual Property of Process Equipment Co.

Acquisition expands companys portfolio of automation solutions.

Lincoln Electric Holdings Inc. (NASDAQ: LECO), Cleveland, OH, has acquired all intellectual property related to laser welding and marking systems produced by Process Equipment Co., Tipp City, OH. Terms were not disclosed.

Lincoln Electric's Wayne Trail subsidiary will assume responsibility for servicing and supporting the installed base of PECo laser welding and marking systems. Wayne Trail has also hired key PECo personnel, which will help provide a seamless transition for existing customers.

"We are excited to expand our portfolio of automation solutions for automotive manufacturers," said Steve Hedlund, president of global automation solutions for Lincoln Electric.

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