NanoSteel grants Lincoln Electric an exclusive license

The NanoSteel® Company and Lincoln Electric announced today that NanoSteel has granted Lincoln Electric an exclusive worldwide license to the company’s proprietary steel coatings technology for weld overlay and thermal spray applications. This agreement expands Lincoln Electric’s range of wear resistant products, which complement the company’s core arc welding, cutting and automation solutions.

"We are pleased to add NanoSteel's breakthrough technology to our product portfolio," said Tom Matthews, Senior Vice President of technology and R&D for Lincoln Electric. "These unique products provide a level of hardness and abrasion resistance that is superior to chrome carbides and more economical than tungsten carbides. NanoSteel’s proprietary technology enables customers to significantly extend the service life of equipment used in mining, oil and gas, power generation and other industries.”

For more than 12 years, NanoSteel has developed innovative iron-based alloys in various forms to advance steel's capabilities in multiple markets. The company will continue to design and market its engineered powders and automotive sheet steel portfolio outside this agreement.

"We are proud to be aligned with a company of Lincoln's worldwide reach, technology innovation and influence" said David Paratore, NanoSteel President and Chief Executive Officer. "This agreement reinforces our business focus of licensing our technology to the world’s leading brands to offer global availability of our alloy designs.”

During the transition period, NanoSteel and Lincoln Electric will work together to ensure consistent product availability and customer support. Terms of the licensing agreement were not disclosed.

Adapted from press release by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/09072014/nanosteel_grants_lincoln_electric_a_portfolio_license/