Lincoln Electric to Sell Motor Business to Regal-Beloit

Lincoln Electric Holdings Inc. (Cleveland) announced that it has signed a letter of intent to sell its motor business to Regal-Beloit (Beloit, WI). Negotiations between the companies are ongoing and a definitive agreement is expected by the end of April.

Regal-Beloit is a worldwide supplier of motion control equipment, electric motors and generators, and related products. Sales in 1998 were $543.5 million.

Lincoln Electric is a world leader in the design and manufacture of arc welding products, robotic welding systems, plasma and oxyfuel cutting equipment and a producer of industrial electric motors.

In 1998, Lincoln Electric had sales of $1.187 billion. Its motor business, however, does not represent a publicly reportable portion of its total sales.