Our Guest speaker today was Kendall Fullerton, Director, New Ventures, Lincoln Electric Company of Canada. Shown below is a summary of Kendall's excellent presentation on the Lincoln Electric Company.
- Founded in 1895 by John C. Lincoln
- Their business model is the most studied by the Harvard Business School
- First product was electric motors
- First arc welder 1911
- VISION: Continuously improve quality while continuously reducing unit costs of production & distribution, passing the cost savings on to the customer
- It takes an entire team to get the job done
- James Lincoln’s Philosophy
- Job security
- Open Communication
- Mutual Respect
- A Sense of Ownership
- PayBased performance
- Customer and Employees come first
- No special Status – Workers manage and managers work
- Lincoln Electric Today
- $3.0B in revenue in 2018
- Market cap of ~$5.1B
- HQ in Cleveland, Ohio, U.S
- 50+ manufacturing facilities in 19 countries
- Distribution to over 160 countries
- 10,000+ employees worldwide
- Stock rose from $13.5 to $100 from 2002 – 2019
- Lincoln Electric Canada
- Established Subsidiary in Canada in 1916
- Built the Canadian Mfg. Plant in 1939 (Leaside)
- Today 5 divisions
- 350 people
- Picture of Canadian Products
- Steel Welding Wire (Leaside)
- Diesel Engine Powered Welders (Leaside)
- Aluminum Welding Wire (Mississauga)
- Welding Positioner Systems (Mississauga)
- Robotic Cutting Systems (Burlington)