Lincoln Electric (LECO) 10-K 2004 FY Annual report

EXHIBIT 21

LINCOLN ELECTRIC HOLDINGS, INC. AND SUBSIDIARIES

SUBSIDIARIES OF THE REGISTRANT

The Company’s subsidiaries and joint ventures are listed in the following table:

	Country of		Percent
Name	Incorporation		Ownership
A. B. Arriendos S.A.		Chile		50
Bester S.A.		Poland		99
The Lincoln Electric Company		United States		100
Lincoln Electric Europe B.V.		The Netherlands		100
Lincoln Electric Europe, S.L.		Spain		100
Harris Calorific Limited		Ireland		100
Harris Calorific S.r.l.		Italy		100
Harris Calorific, Inc.		United States		100
Harris Calorific GmbH		Germany		100
Lincoln Global Holdings LLC		United States		100
Inversiones LyL S.A.		Chile		50
Kaynak Teknigi Sanayi ve Ticaret A.S.		Turkey		50
Kuang Tai Metal Industrial Co., Ltd.		Taiwan		35
Lincoln Electric (U.K.) Limited		United Kingdom		100
Lincoln Electric Argentina, S.A.		Argentina		100
Lincoln Electric Company (Australia) Proprietary Limited		Australia		100
Lincoln Electric Company of Canada GP Limited		Canada		100
Lincoln Electric Company of Canada LP		Canada		100
Lincoln Canada Holdings ULC		Canada		100
Lincoln Electric do Brasil Industria e Comercio Ltda.		Brazil		100
Lincoln Electric France S.A.S.		France		100
Lincoln Electric International Holding Company		United States		100
Lincoln Electric Italia S.r.l.		Italy		100
C.I.F.E. S.r.l.		Italy		100
Lincoln Electric Maquinas S. de R.L. de C.V.		Mexico		100
Lincoln Electric Mexicana, S.A. de C.V.		Mexico		100
Lincoln Electric Manufactura, S.A. de C.V.		Mexico		100
Lincoln Electric North America, Inc.		United States		100
Lincoln Electric Norge A.S.		Norway		100
Lincoln Global, Inc.		United States		100
Lincoln Smitweld B.V.		The Netherlands		100
Lincoln Smitweld GmbH		Germany		100
Lincoln-KD, S.A.		Spain		100
Lincoln Electric Venezuela, C.A.		Venezuela		100
PT Lincoln Electric Indonesia		Indonesia		78
Rui Tai Welding and Metal Co., Ltd.		China		70
Sacit S.r.l.		Italy		100
Shanghai Lincoln Electric Co. Ltd.		China		84
Smart Force, LLC		United States		100
Tenwell Development Pte. Ltd.		Singapore		21
The Lincoln Electric Company (Asia Pacific) Pte. Ltd.		Singapore		100
Lincoln Smitweld Belgium S.A.		Belgium		100
Lincoln Electric (Shanghai) Trading and Warehouse Co., Ltd.		China		100

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EXHIBIT 21

LINCOLN ELECTRIC HOLDINGS, INC. AND SUBSIDIARIES

SUBSIDIARIES OF THE REGISTRANT

	Country of		Percent
Name	Incorporation		Ownership
Lincoln Soldaduras de Venezuela S.A.		Venezuela		100
Lincoln Electric Sverige AB		Sweden		100
Uhrhan & Schwill Schweisstechnik GmbH		Germany		100
Welding, Cutting, Tools & Accessories, LLC		United States		100

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