1
EXHIBIT (21)
THE LINCOLN ELECTRIC COMPANY 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 CONSOLIDATED
NAME INCORPORATION PERCENT OWNERSHIP
---- ------------- -----------------
Lincoln Electric (U.K.) Limited United Kingdom 100
Lincoln Electric Norge AS Norway 100
Lincoln Electric France S.A. France 100
Lincoln Smitweld B.V. The Netherlands 100
Lincoln-KD, S.A. Spain 100
Lincoln Electric Company Australia 100
(Australia) Proprietary Limited
Lincoln Electric Company of Canada 100
Canada Limited
Lincoln Electric Mexicana, S.A. de C.V. Mexico 100
Lincoln Electric Do Brasil Ltda. Brazil 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.