Lincoln Electric Receives Presidential Award For ExportsMonday, May 20, 2013
Lincoln Electric Holdings, Inc., ("Lincoln Electric") (Nasdaq: LECO) is pleased to announce that the U.S. Acting Secretary of Commerce, Rebecca Blank, presented Lincoln Electric with the President's "E" Award for Exports at a ceremony in Washington, D.C. The "E" Awards are the highest recognition any U.S. entity may receive for making a significant contribution to the expansion of U.S. exports.
"We are honored to receive this prestigious award as exports are a core component of our global growth strategy, which focuses on expanding the reach of our leading arc welding and cutting solutions to customers worldwide," said Christopher L. Mapes, President and Chief Executive Officer of Lincoln Electric. "Today, we export to 123 countries, which allows us to not only preserve, but expand our local work force while meeting the rising demand for our solutions."
"I am delighted to be recognizing this year's Presidential 'E' Award winners for their outstanding contributions to U.S. exports and congratulate Lincoln Electric on its outstanding export achievement," said Acting Secretary Blank. "It is businesses like Lincoln Electric that are strengthening the economies of local communities, creating jobs, and contributing to the worldwide demand for 'Made in the USA' goods and services."
About Lincoln Electric
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc welding systems, plasma and oxy-fuel cutting equipment and has a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 45 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric and its products and services, visit the Company's website at www.lincolnelectric.com.
About the E Star Award
President Kennedy revived the World War II "E" symbol of excellence to honor and provide recognition to America's exporters. The "E" Award Program was established by Executive Order 10978 on December 5, 1961. A total of 57 U.S. companies were presented with the President's "E" Award this year.
U.S. companies are nominated for the "E" Award for Exports through the Department of Commerce's U.S. and Foreign Commercial Service office network, located within the Department's International Trade Administration, which has offices in 108 U.S. cities and more than 70 countries to help U.S. exporters. Four years of successive export growth and an applicant's demonstration of an innovative international marketing plan that led to the increase in exports is a significant factor in making the award.
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