59527--2/22/2007--LINCOLN_ELECTRIC_HOLDINGS_INC

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{product, market, service}
{condition, economic, financial}
{operation, international, foreign}
{acquisition, growth, future}
{product, liability, claim}
We may incur material losses and costs as a result of product liability claims that may be brought against us. The cyclicality and maturity of the United States arc welding and cutting industry may adversely affect our performance. We may not be able to complete our acquisition strategy or successfully integrate acquired businesses. If we cannot continue to develop, manufacture and market products that meet customer demands, our revenues and gross margins may suffer. The competitive pressures we face could harm our revenue, gross margins and prospects. We conduct our sales and distribution operations on a worldwide basis and are subject to the risks associated with doing business outside the United States.

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