Lincoln Electric To Acquire Fori Automation - Quick Facts

(RTTNews) - Lincoln Electric Holdings, Inc. (LECO) has agreed to acquire Fori Automation, a privately held automation engineering firm. Fori Automation is a designer and manufacturer of multi-armed automated welding systems, with an extensive range of automated assembly systems, automated material handling solutions, automated large-scale, industrial guidance vehicles, and end of line testing systems. It primarily serves automotive and aerospace OEMs. The agreement provides for a cash purchase price of $427 million.

Lincoln Electric said the acquisition will accelerate the company's Higher Standard 2025 strategic goal of achieving $1 billion in automation sales by 2025 with the addition of new automated capabilities including large-scale assembly, automated material handling solutions and end of line testing systems. The company expects Fori Automation acquisition to increase annual automation sales by approximately $225 million at comparable EBIT margins to the company's current automation portfolio, and to be accretive to earnings.