1 EXHIBIT 23 CONSENT OF INDEPENDENT AUDITORS We consent to the incorporation by reference in the Registration Statement (Form S-8 No. 33-25209) pertaining to The Lincoln Electric Company 1988 Incentive Equity Plan of our report dated March 3, 1995, with respect to the consolidated financial statements and schedule of The Lincoln Electric Company and subsidiaries included in the Annual Report (Form 10-K) for the year ended December 31, 1994. ERNST & YOUNG LLP Cleveland, Ohio March 30, 1995 2 EXHIBIT 23 CONSENT OF INDEPENDENT ACCOUNTANTS We hereby consent to the incorporation by reference in the Registration Statement Form S-8 (No. 33-25209) of The Lincoln Electric Company of our report dated March 27, 1995 relating to the consolidated financial statements of The Lincoln Electric Company (Australia) Proprietary Limited and subsidiaries appearing on page 18 of this Form 10-K. /s/ Price Waterhouse ----------------------------------- Price Waterhouse Parramatta, Australia March 27, 1995 3 EXHIBIT 23 KPMG KLYNVELD PEAT MARWICK GOERDELER Ernst & Young Attn: Mr. J. Katzenmeyer 1300 Huntington Building Cleveland, Ohio 44115 USA CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in Forms S-8 of our independent auditors' report dated March 12, 1993 on the consolidated financial statements and schedules of Messer Lincoln GmbH and its subsidiary as at December 31, 1992 referred to in the annual report on Form 10-K of The Lincoln Electric Company for the year ended December 31, 1994. Dusseldorf, March 21, 1995 KPMG KLYNVELD PEAT MARWICK GOERDELER Gesellschaft mit beschrankter Haftung Wirtschaftsprufungsgesellschaft /s/ R. Kassing /s/ T. te Dorsthorst ---------------------------- ------------------------------ R. Kassing T. te Dorsthorst 4 EXHIBIT 23 KPMG ACCOUNTANTS CONSENT OF INDEPENDENT ACCOUNTANTS We consent to the incorporation by reference in Forms S-8 of our report on the consolidated financial statements and schedules of Lincoln-Norweld B.V. and its subsidiaries referred to in the annual report on Form 10-K of The Lincoln Electric Company for the year ended December 31, 1994. Arnhem, The Netherlands March 28, 1995 /s/ KPMG Accounts N.V. ------------------------------- KPMG Accountants N.V.