NanoSteel Grants Exclusive Worldwide License to Lincoln Electric
Receiving licenses to proprietary steel coatings technology for weld overlay and thermal spray applications expands the welding equipment manufacturer’s range of wear-resistant products.
Posted: July 10, 2014
Lincoln Electric (Cleveland, OH) and The NanoSteel® Company (Providence, RH) has announced that Lincoln Electric has been granted an exclusive worldwide license to NanoSteel’s proprietary steel coatings technology for weld overlay and thermal spray applications. This agreement expands Lincoln Electric’s range of wear-resistant products, which complement the company’s core arc welding, cutting and automation solutions.
“We are pleased to add NanoSteel’s breakthrough technology to our product portfolio,” said Tom Matthews, the senior vice president of technology and R&D for Lincoln Electric. “These unique products provide a level of hardness and abrasion resistance that is superior to chrome carbides and more economical than tungsten carbides. NanoSteel’s proprietary technology enables customers to significantly extend the service life of equipment used in mining, oil and gas, power generation and other industries.”
For more than 12 years, NanoSteel has developed innovative iron-based alloys in various forms to advance steel’s capabilities in multiple markets. The company will continue to develop and market its engineered powders and automotive sheet steel portfolio outside this agreement.
“We are proud to be aligned with a company of Lincoln Electric’s worldwide reach, technology innovation, and influence,” said David Paratore, the president and chief executive officer of NanoSteel. “This agreement reinforces our business focus of licensing our technology to the world’s leading brands to offer global availability of our alloy designs.”
During the transition period, NanoSteel and Lincoln Electric will work together to ensure consistent product availability and customer support. Terms of the licensing agreement were not disclosed.
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