ESAB announces ESAB Europe Xpanse
Published by Aimee Knight,
ESAB announced that it is holding its ESAB Europe Xpanse event virtually on 27 - 29 April, featuring more than 50 recent product introductions that address the needs of every market segment as well as online classroom opportunities with ESAB University.
Highlights include online data management and analytic applications that are easy to deploy and use, wire feeders that redefine robustness and productivity, portable inverters, energy efficient heavy-industrial solutions, a combination high-precision plasma and waterjet cutting system, filler metals, mechanised welding systems, lightweight manual plasma cutters and personal protective equipment.
“To understand the breadth and depth of our ability to solve challenges, as well as an opportunity to interact with our application experts, I would encourage participation in the ESAB Europe Xpanse virtual event,” says Mikael Mimer – Director of Product Marketing – Europe, ESAB. “Even our trade show experience is innovative, providing an industry-first-of-its-kind immersive experience that replicates our tradeshow stand. Until we can gather in person, Xpanse is an unmatched learning opportunity.”
ESAB expected to become an independent public company
On 4 March, 2021, ESAB’s parent company, Colfax Corporation, announced its intention to separate its ESAB fabrication technology business and its specialty medical technology businesses into two differentiated, independent and publicly-traded companies. ESAB is expected to be comprised of Colfax’s Fabrication Technology operating segment, which is forecasted to generate revenue of approximately US$2.2 billion in 2021. The separation is intended to be structured in a tax-free manner and is targeted to be completed in 1Q22. Shyam Kambeyanda, ESAB’s Chief Executive Officer, will continue to lead the fabrication technology company, which will remain headquartered in Maryland, USA.
“As part of Colfax since 2012, ESAB has been significantly strengthened,” said Johan Fransson, Managing Director Europe, ESAB. “There was US$1.6 billion invested in acquisitions to create the only truly global welding and cutting business, our market-leading innovation engine was created, and we used the Colfax Business System to significantly improve our ability to serve customers. We are ready and excited to again become independent and focus even more resources on solving customer challenges through welding and cutting innovations.”
ESAB is a fabrication technology leader with an unparalleled global footprint, track record of industry-leading product innovation and strong positions in attractive emerging markets. The company has successfully executed its operational improvement strategy to out-grow peers in recent years and significantly increase margins and cash flow. Through strategic bolt-on acquisitions, ESAB has broadened its product and technology offering, extended its geographic reach and expanded into attractive new segments.
Colfax intends the separation to be tax-free to Colfax’ shareholders. Colfax is targeting completion of the separation in 1Q22. Completion of the separation is subject to, among other things, completion of financing and other transactions on satisfactory terms, other steps necessary to qualify the separation as a tax-free transaction, receipt of other regulatory approvals and final approval from the Colfax Board of Directors. Details of the separation will be included in future filings with the SEC. There can be no assurance regarding the form and timing of the separation or its completion.
Read the latest issue of World Pipelines magazine for pipeline news, project stories, industry insight and technical articles.
World Pipelines’ March 2021 issue
The March 2021 issue of World Pipelines includes: a regional report on pipeline projects in Asia-Pacific; a summary of the latest and best construction equipment courtesy of the annual Heavy Equipment Review; a welding-focused Q&A; and technical articles on hot tapping, sustainable steel and decommissioning.
Read the article online at: https://www.worldpipelines.com/business-news/06042021/esab-announces-esab-europe-xpanse/
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