Lincoln Electric System history

Area residents continued taking control of their power by voting to establish the LES Administrative Board in 1970.

The Mentor, Ohio, electrode plant was started up in 1977 to produce the company's domestic wire consumables products.

The early 1980's were a time of hardship, with Lincoln Electric's sales dropping 40 percent in response to the combined effects of inflation, sharply higher energy costs, and a national recession.

With $4 million in sales that year, the company paid $131,800 in bonuses; in 1981 Lincoln's 2,684 employees shared a record $59 million in bonuses, an average of $22,008 per recipient.

In 1986, George E. Willis was named chairman and Donald F. Hastings became president.

In 1987 Lincoln purchased an Australian electrode plant from France's Air Liquide.

A 1988 joint venture with Norweld Holding A.A., a Norwegian company with $100 million in annual sales, quadrupled Lincoln's business in Northern Europe to $135 million annually.

In 1991, an expanded world headquarters facility opened with expanded and renovated Weld Technology and training center operations.

Unanticipated difficulties in transplanting the incentive system to operations in such countries as Brazil, Mexico, and Germany, coupled with a 40 percent drop in the European market, contributed to a $46 million loss in 1992.

Sales records were set every quarter since mid 1993.

The company's decision to shed itself of those international operations resulted in a complete turnaround: 1994 sales and earnings reached record levels of $907 million and $48 million, respectively.

On June 8, 1995, the Company's Centennial year, a new, state-of-the-art motor facility opened in celebration of John C. Lincoln Appreciation Day.

Anthony Massaro was named President and the chief operating officer in 1996.

Hastings remains as Chairman until May, 1997.

19981998 was a year of expansion, acquisition and product development for Lincoln Electric.

1999In January of 1999, Lincoln Electric established a majority-held, joint venture electrode plant in the Philippines with distributor partners.

Christopher L. Mapes, a member of Lincoln’s Board of Directors since 2010, is named Chief Operating Officer of the Company.

2012Lincoln continues to expand in 2012, acquiring four companies in the high-growth areas of automation and alloy-based consumables which predominately serve high demanding applications in areas such as the oil and gas sector.