ESAB
{{Short description|American-Swedish industrial company}}
{{Infobox company
| name = ESAB Corporation
| logo = ESAB.svg
| type = Public company
| traded_as = {{ubl|{{NYSE|ESAB}}|S&P 400 component}}
| industry = Manufacturing, welding, fabrication
| fate =
| predecessor =
| successor =
| founded = {{Start date and age|1904}} in Gothenburg, Sweden
| founder = Oscar Kjellberg
| defunct =
| hq_location = {{nowrap|North Bethesda, Maryland, U.S.}}
| area_served = Worldwide
| key_people = {{ubl|Shyam Kambeyanda, CEO|Mitchell Rales, Chairman of the Board}}
| products =
| owner =
| num_employees = 9,000
| num_employees_year = 2022
| parent = ESAB Corporation
| website = {{URL|esab.com}}
| footnotes =
}}
ESAB, Elektriska Svetsnings-Aktiebolaget ({{langx|en|Electric Welding Limited company}}), is an American-Swedish industrial company.{{Cite news |title=Business Wire |url=https://www.businesswire.com/news/home/20220405005226/en/ESAB-Corporation-Completes-Separation-From-Enovis-and-Launches-as-an-Independent-Publicly-Traded-Company}}
The ultimate parent company of ESAB is ESAB Corporation, a New York Stock Exchange listed (Ticker: [https://www.cnbc.com/quotes/ESAB?qsearchterm= ESAB]) with its principal executive office in North Bethesda, Maryland, U.S.{{Cite web |last=Publisher |first=Stainless Steel World |date=2022-04-11 |title=ESAB as an independent, publicly-traded company |url=https://stainless-steel-world.net/esab-as-an-independent-publicly-traded-company/ |access-date=2022-10-25 |website=Stainless Steel World.net |language=en-US}}
ESAB products includes a fabrication technology arm, which includes welding, cutting, gas control, PPE, software, and robotic equipment and a separate gas control portfolio focused on healthcare, industrial, and specialty gas control solutions.{{Cite web |title=ESAB Corporation Acquires Ohio Medical |url=https://www.yahoo.com/now/esab-corporation-acquires-ohio-medical-103000495.html |access-date=2022-10-26 |website=www.yahoo.com |language=en-US}}{{cite news |last1=Wilen |first1=Holden |title=These two executives will lead new Maryland-based public company after Colfax's split |url=https://www.bizjournals.com/baltimore/news/2021/03/09/new-executives-to-lead-colfax-spinoff.html |access-date=29 June 2023 |work=Baltimore Business Journal |date=9 March 2021}}
History
The company was founded in 1904 by Swedish businessman Oscar Kjellberg in Gothenburg, Sweden. The company sells equipment for welding and cutting.
Other notable CEO was Lars Westerberg who ran ESAB for three years.
The ESAB was acquired by Charter International in 1994.
The ESAB group was acquired by Colfax Corporation on 13 January 2012.
Following the purchase, the CEO of Colfax, Clay Kiefaber, stepped down to the president role of ESAB and was replaced by Steve Simms.
The ESAB group acquired the Welding Wire business of Sandvik effective February 1, 2018. The acquisition included production units in Scranton, PA, and Sandviken, Sweden; the technical sales and product management organization; as well as multiyear strategic collaboration on R&D for future product developments.{{cite web |title=ESAB COMPLETES ACQUISITION OF SANDVIK WELDING BUSINESS |url=http://www.esab.co.uk/gb/en/news/latest/esab-completes-acquisition-of-sandvik-welding-business.cfm |website=esab.co.uk |accessdate=4 August 2018 |date=1 February 2018}}
On April 5, 2022, Colfax Corp. (now Enovis Corp.) distributed 100% of the shares of ESAB Corporation to Colfax shareholders. The spin-off transaction was registered with the U.S. Securities and Exchange Commission through a Form 10-12B [https://www.sec.gov/Archives/edgar/data/d182383d1012ba.htm/000119312522077739/0001193125-22-077739-index.html registration statement].{{Cite web |date=March 17, 2022 |title=EDGAR Filing Documents for 0001193125-22-077739 |url=https://www.sec.gov/Archives/edgar/data/d182383d1012ba.htm/000119312522077739/0001193125-22-077739-index.html |access-date=2024-05-07 |website=www.sec.gov}} An [https://www.sec.gov/Archives/edgar/data/1877322/000119312522077739/d182383dex991.htm Information Statement] was sent to Colfax shareholders. {{Cite web |title=EX-99.1 |url=https://www.sec.gov/Archives/edgar/data/1877322/000119312522077739/d182383dex991.htm |access-date=2024-05-07 |website=www.sec.gov}}
On October 17, 2022, ESAB Corporation announced the acquisition of Ohio Medical, a global leader in oxygen regulators and central gas systems for the healthcare industry.{{Cite web |last=gasworld |date=2022-10-18 |title=ESAB expands expertise through Ohio Medical acquisition |url=https://www.gasworld.com/story/esab-expands-expertise-through-ohio-medical-acquisition/ |access-date=2022-10-25 |website=gasworld |language=en}}
Critics
In January 2024 ESAB was added to Ukraine's list of International Sponsors of War for continuing to operate and expand business in Russia.{{cite web |title=The American-Swedish company ESAB has been added to the list of international sponsors of the war |url=https://odessa-journal.com/public/the-american-swedish-company-esab-has-been-added-to-the-list-of-international-sponsors-of-the-war |date=25 January 2024}}
References
{{Reflist}}
- {{Cite web |date=2022-04-05 |title=ESAB Corporation Completes Separation From Enovis and Launches as an Independent, Publicly Traded Company |url=https://www.businesswire.com/news/home/20220405005226/en/ESAB-Corporation-Completes-Separation-From-Enovis-and-Launches-as-an-Independent-Publicly-Traded-Company |access-date=2022-04-05 |website=www.businesswire.com |language=en}}
External links
- {{officialwebsite|esab.com}}
{{Finance links
| name = ESAB Corporation
| symbol = ESAB
| sec_cik = 1877322
| yahoo = ESAB
| google = NYSE:ESAB
}}
{{Maryland Corporations}}
{{S&P 400 companies}}
{{Authority control}}
Category:Companies listed on the New York Stock Exchange
Category:Companies based in Montgomery County, Maryland
Category:Swedish companies established in 1904