Oxford, Mass. and Cleveland, Ohio – IPG Photonics Corp., a provider of high-power fiber lasers and amplifiers, and Lincoln Electric Holdings Inc., a manufacturer of arc welding and cutting products, have formed a strategic partnership to explore global opportunities in the high-power laser welding and cutting market.
Lincoln Electric selected IPG to be part of its strategic supplier vendor list in its effort to enhance supply chain and technology development relationships with critical industry partners.
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."
"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, and reduce costs," said John M. Stropki, chairman and CEO of Lincoln Electric.