March 24, 2010
Welding equipment manufacturer Lincoln Electric is celebrating its 115th year anniversary in 2010.
In 1895, John C. Lincoln founded the company with a capital investment of $200. His younger brother, James F. Lincoln, joined the company in 1907, and together the two brothers built a solid foundation of corporate values that still drive Lincoln Electric today.
Throughout its 115 years, the company has pioneered scores of technology innovations, starting with the world's first variable voltage welding machine in 1911.
"We hold the same values today that John C. Lincoln held that day in 1895 when the company first opened for business," said John M. Stropki, chairman and CEO. "As we celebrate our 115th anniversary we maintain our enduring passion for the development and application of welding technologies that constantly provide better solutions to our customers' needs."
Lincoln Electric continues to strategically update and expand its product lines. Last year the company introduced 108 new products over a nine-month period.
The company continues to strategically grow its global market and manufacturing presence. In 2009 it opened a new state-of-the-art welding consumables plant in India, expanded its position and product offering in China through the acquisition of Jinzhou Jin Tai Welding and Metal Co., Ltd., and dedicated a 100,000-square-foot Automation Center of Excellence adjacent to its world headquarters in Cleveland, Ohio.
Outside of welding circles, Lincoln has been the most studied Harvard Business School case due to its long-held incentive management philosophy.