Cleveland-based Lincoln Electric Holdings announced Nov. 30 that it's formed a majority-owned joint venture with privately held Chinese manufacturer Zhengzhou Heli Welding Materials.
Lincoln doesn't expect the joint venture to have a significant impact on earnings in its first year of operation. Zhengzhou Heli reports annual sales of about $8 million.
The joint venture will produce submerged arc wire and flux, which are used in welding applications in heavy construction, pipe mills, energy and other infrastructure segments.
Lincoln Electric is a manufacturer of arc welding equipment, robotic arc-welding systems, plasma and oxyfuel cutting equipment.