Lincoln Electric

Agenda
Company Overview
Industry Analysis
Indian Welding Industry
Competitor Analysis
SWOT
PEST
Financial Analysis
Option Analysis
Conclusion

Lincoln Electric

Market Share
SWOT Analysis
PEST Analysis
Financial Analysis
Should India be our next step in globalization?
Projected in the next 50 years, India is going to be the fastest growing of the world's major economies (2003)
Real average annual growth in GDP is above 9% for the past three years
India’s welding market was 3rd largest in Asia in 2006
Industry growth is higher than country growth

Industry Analysis
2008: $13. 2 billion
2013: Projected $16.9 billion
Options
Acquisition
New Plant
Joint Venture
Acquisition
New Plant
Joint Venture
Indian Welding Industry
Joint Venture
Questions & Comments
High number of firms in Indian welding industry.
Large firms = 56% of industry sales
Original designs and technology.
Small firms = 44% of industry sales.
Imitate designs of large firms and sell at discount.
Susceptible to R&D imitation.

Ador Welding
Managed by local Advani family in Mumbai.
Over $50 million in sales in 2005.
About 10% of market share.
ESAB India
Controlled by top multinational competitor ESAB.
Over $50 million in sales in 2005.
About 10% of market share.
EWAC Alloys
50-50 Joint Venture between Messer (Germany) and L&T (Japan)
$30 million in sales in 2005.
About 5% of market share.

Top Competitors in India
Andrea B Langston, Kevin Chan, Christina Wacker, & Lucas Walker