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LINCOLN ELECTRIC TO ESTABLISH NEW MOTOR MANUFACTURING PLANT IN EUCLID

 EUCLID, Ohio, March 1 /PRNewswire/ -- Ohio Governor George V. Voinovich joined with Euclid Mayor David M. Lynch and Donald F. Hastings, chairman and chief executive officer of The Lincoln Electric Company today to announce that Lincoln will establish a new motor manufacturing facility in Euclid. Lincoln's new motor division, to be headquartered in the former Euclid, Inc. factory at the southeast corner of East 222 and St. Clair Ave., is projected to employ as many as 400 people by 1997. The new Lincoln Motor operation will be the largest factory established in Euclid since the mid-1950's.
 The decision to locate in Euclid follows months of study by Lincoln of sites in the U.S.A. and other countries for their motor manufacturing division. The company recently acquired certain assets of General Motor's electric motor business located in Dayton, and intends to integrate manufacturing of the former Delco motor product line with Lincoln's existing line of high quality industrial motors in the new plant. In the interim, Lincoln has entered into an agreement with The Dayton-Phoenix Group, the operating owner of the former GM facility, whereby Dayton-Phoenix will continue to manufacture motors at their existing Dayton plant until the new facility is established in Euclid in 1994.
 "Never before in the City of Euclid have we seen this kind of leadership; Lincoln is working in partnership with the Governor of the State, our County Commissioners and our City Council members to keep jobs and economic development growing in our community. This is a great day for Euclid," Lynch said.
 Lynch indicated that the company was not only building a technologically advanced motor manufacturing facility, but would be leasing nine acres of the site to the city for use as a new community recreation facility, including new baseball and soccer fields.
 "We have needed new recreation areas in Euclid for some time," Lynch said, "but we haven't had good sites available and accessible. The opportunity to develop new recreation facilities for our community is an important part of our package with Lincoln."
 The package is a combination of low interest loans, property tax abatement, tax credits and grants from the City of Euclid, the State of Ohio and Cuyahoga County. Some of the grants will be used specifically for job training and to improve access to the plant site and the new community recreation area.
 "This is a perfect example of how our government is working with Ohio business to help them grow and create new jobs right here in Ohio," Voinovich said. "Lincoln is one of the 'star' companies in our state and I'm very proud of the way all the levels of government have cooperated to make this announcement today a reality."
 Don Hastings, chairman and CEO of Lincoln, indicated that the company was very pleased to be building on its existing commitment to the region.
 Hastings said, "We're looking forward to adding this expanded motor business to our arc welding manufacturing operations, new world headquarters and state-of-the-art international training facility. We are extremely proud to strengthen our commitment to manufacturing top- quality motors at value prices right here in America ... right here in Euclid, Ohio. We believe very strongly in the extra special value of an educated, well trained and dedicated workforce. The results we have historically been able to achieve in North Eastern Ohio are unique. Lincoln's acquisition of Delco's motor assets, coupled with our own capabilities, enhance our competitive position in the world marketplace."
 The city portion of the program will be placed before the Euclid City Council at its regular Council meeting tonight.
 -0- 3/1/93
 /CONTACT: Tatinia Major of the City of Euclid, 216-289-8359; Claire Rosacco of the State of Ohio, 216-787-3240; or Richard Sabo of Lincoln Electric, 216-481-8100/


CO: The Lincoln Electric Company ST: Ohio IN: MAC SU:

BM -- CL015 -- 1493 03/01/93 14:07 EST
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Publication:PR Newswire
Date:Mar 1, 1993
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