1
 
                                                                    EXHIBIT 23.3
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
   
We consent to the incorporation by reference in Form S-3 (No. 33-58881) 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, and to the reference to
our firm under the heading "EXPERTS" in the prospectus.
    
 
   
Dusseldorf, June 5, 1995
    
 
   
KPMG KLYNVELD PEAT MARWICK GOERDELER