IPG Photonics, Lincoln Electric Ink Partnership

OXFORD, Mass., and CLEVELAND, Nov. 22, 2010 — High-power fiber lasers and amplifier provider IPG Photonics Corp. and Lincoln Electric Holdings Inc., an arc welding and cutting products company, announced the formation of 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 jointly provide expanded turnkey hybrid fiber laser-MIG welding solutions to industrial customers globally. It will also involve cooperative sales, application development and marketing efforts.

Anticipated benefits of the partnership include collaboration and strategy development, improved business processes, rapid commercialization, system integration and entry into new markets, applications and customers.

“This agreement reinforces our valued relationship with Lincoln Electric, provides a unique forum for persistent engagement at the executive level of both companies, and ultimately ensures our mutual customer base can enjoy the depth and advantage of the high-performance enabling technologies each company offers,” said Dr. Valentin P. Gapontsev, chairman and CEO of IPG.

For more information, visit: www.ipgphotonics.com