Officials with Colfax Corporation of Maryland say they've acquired ESAB Welding and Cutting Products. The company announced in September an offer to buy ESAB.
"We are very excited about this acquisition," said Andrew Masterman, President & Chief Executive Officer of ESAB North America. "Colfax Corporation is a leading manufacturing company with a proven operating system - the Colfax Business System - and is solidly focused on customer needs and the development of strong brands. This is a perfect fit for ESAB, as we are a world-class leader in the welding industry - a position we have attained by building strong partnerships with our customers and by creating a brand that is trusted worldwide."
ESAB's North American headquarters is located in Florence off of Ebenezer Road. The plant has been there since 1966 and employs about 550 people.
Since 2009, ESAB cut 160 jobs from the Florence plant as part of its global reorganization process.
ESAB Welding & Cutting Products is one of the world's largest and most experienced manufacturers of welding and cutting equipment and welding filler metals. Recognized as the technological leader in the industry, ESAB is committed to providing cost effective solutions for its customers.
ESAB employs more than 8,500 people worldwide, and is one of the top manufacturers in the welding industry, which is worth approximately $10 billion per year. ESAB has sales and support locations in 80 countries, and 26 manufacturing facilities across 4 continents.
