Lincoln Electric Holdings Inc. (Lincoln) acquired privately owned welding wire manufacturer, Mezhgosmetiz Mtsensk. The company is based in the Orel region of Russia, providing Lincoln with its first manufacturing operation in Russia. It also provides Lincoln with established distribution channels to supply the Russian and Commonwealth of Independent States (CIS) welding markets. Lincoln has both brand recognition and market presence in Russia due to the import of its welding products for the energy and infrastructure segments. The acquisition has been approved by the Russian Federation regulatory agencies although the terms were not disclosed. A solid wire and stick electrode producer, MGM’s annual sales totaled USD 30 million. Lincoln Electric designs, develops and manufactures arc welding products, robotic arc welding systems, plasma and oxyfuel cutting equipment.