NEW YORK Lincoln Electric Co. has signed a worldwide licensing agreement for NanoSteel Co. Inc.s proprietary weld overlay and thermal spray applications steel coatings technology.
"These unique products provide a level of hardness and abrasion resistance that is superior to chrome carbides and more economical than tungsten carbides," Tom Matthews, senior vice president of technology and research and development at Cleveland-based Lincoln Electric, said in a statement. "NanoSteels proprietary technology enables customers to significantly extend the service life of equipment used in mining, oil and gas, power generation and other industries."
The terms of the licensing agreement were not disclosed.
"This agreement reinforces our business focus of licensing our technology to the worlds leading brands to offer global availability of our alloy designs," said David Paratore, president and chief executive officer of Providence, R.I.-based NanoSteel.