Lincoln Electric and IPG Photonics Enter Strategic Partnership
Under the agreement, the two manufacturers will pursue joint ways of exploiting global opportunities in the high-power laser welding and cutting market.
Posted: November 17, 2010
IPG Photonics Corporation (Oxford, MA), a world leader in high-power fiber lasers and amplifiers, and Lincoln Electric Holdings, Inc., (Cleveland, OH), a world leader in arc welding and cutting products, have formed a strategic partnership to explore global opportunities in the high-power laser welding and cutting market.
Under the agreement, the two companies will pursue joint ways of providing expanded turnkey hybrid fiber laser-MIG welding solutions to industrial customers around the world. The partnership will also involve cooperative sales, application development and marketing efforts. Examples of potential benefits to be derived from this agreement include collaboration and strategy development toward pursuit of new business opportunities, shared technology development, improved business processes, rapid commercialization, system integration and entry into new markets, applications and customers.
“Our companies have enjoyed an excellent working relationship over the past several years,” said Dr. Valentin P. Gapontsev, chairman and CEO of IPG. “Strategic partnering is an effective vehicle to grow market presence, accelerate opportunity creation and strengthen our competitive position. This agreement reinforces our valued relationship with Lincoln Electric, provides a unique forum for persistent engagement at the executive levels of both companies, and ultimately ensures our mutual customer base can enjoy the depth and advantages of the high-performance enabling technologies each company offers.”
“This strategic partnership brings together the world’s strongest welding company and the world’s leader in laser technology to provide innovative, integrated laser welding solutions to the marketplace,” said John M. Stropki, chairman and CEO of Lincoln Electric. “It also affirms our companies’ strong commitment to bring maximum value to customers worldwide. Construction, automotive, energy and general fabrication customers around the globe will benefit from the cooperative efforts of IPG and Lincoln Electric to deliver best-in-class, turnkey automated laser and hybrid laser welding solutions that will increase productivity and quality, as well as reduce costs.”
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