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EXHIBIT 21
LINCOLN ELECTRIC HOLDINGS, INC. AND SUBSIDIARIES
SUBSIDIARIES OF THE REGISTRANT
The Company's significant subsidiaries, all of which are included in its
consolidated financial statements, are listed in the following table:
COUNTRY OF PERCENT
NAME INCORPORATION OWNERSHIP
---- ------------- ---------
The Lincoln Electric Company United States 100
Harris Calorific Limited Ireland 100
Harris Calorific S.r.l. Italy 100
Harris Calorific, Inc. United States 100
Indalco Alloys, Inc. Canada 75
Kaynak Teknigi Sanayi ve Ticaret A.S. Turkey 50
Lincoln Electric (Shanghai Holdings) Pte. Ltd. People's Republic of China 84
Lincoln Electric (U.K.) Limited United Kingdom 100
Lincoln Electric Company (Australia)
Proprietary Limited Australia 100
Lincoln Electric Company of Canada Limited Canada 100
Lincoln Electric Do Brasil Ltda. Brazil 100
Lincoln Electric France S.A. France 100
Lincoln Electric Italia S.r.l. Italy 100
Lincoln Electric Mexicana, S.A. de C.V. Mexico 100
Lincoln Electric Manufactura, S.A. de C.V. Mexico 100
Lincoln Electric Norge AS Norway 100
Lincoln Electric Philippines, Inc. The Philippines 60
Lincoln Global Inc. United States 100
Lincoln Smitweld B.V. The Netherlands 100
Lincoln Smitweld GmbH Germany 100
Lincoln-KD, S.A. Spain 100
PT Lincoln Austenite Indonesia Indonesia 60
Sacit S.r.l. Italy 100
The Lincoln Electric Company
(Asia Pacific) Pte. Ltd. Singapore 100
The Company has omitted the names of its subsidiaries which, considered in the
aggregate as a single subsidiary, would not constitute a "significant
subsidiary" within the meaning of Rule 1-02 contained in Regulation S-X.
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