1. 2005 Revenue for Largest Competitors in $13 Billion Welding Market Lincoln Electric’s main competitors are ESAB (European based company) and ITW (Illinois Tool Works). Lincoln Electric also owns assets in Air Liquide, the fourth largest competitor in the market. Total revenue is important, but the total net income far more important.

7. Industry Benchmark and Competitors NOTE: Ador and ESAB both in Rupee measurements (2 cents for every rupee). ESAB: India earned $1.3 billion, while Lincoln Electric earned $1.6 billion. In 2005, ESAB India gain more capital from investor causing higher ROE. A huge increase of £123.6 million ($215 million).

8. Ador and ESAB Market Rupees in Millions