Tennessee Rand is located on Moccasin Bend Road.A Chattanooga robotics systems maker whose primary customers are in the auto industry has been bought by a global welding and brazing manufacturer based in Cleveland, Ohio.
Tennessee Rand Inc., with its headquarters and manufacturing operations off Moccasin Bend Road, was purchased by Lincoln Electric Holdings Inc. Lincoln designs, makes and sells welding, cutting and brazing products worldwide.
Terms of the deal were not disclosed.
Don Peters, Tennessee Rand's president, said he's hopeful the deal will mean more growth for the business that employs about 175 workers.
He said Rand, with $35 million in annual sales, has long-term customers who are suppliers to the major auto companies.
Lincoln Electric has 46 manufacturing locations, including operations and joint ventures in 20 countries. The company's 2011 sales of $2.7 billion were the highest in Lincoln's 117-year history and resulted from more global demand and growth through acquisitions, according to the company.
The business employs nearly 10,000 people.
"Tennessee Rand strengthens our already strong position as a market leader in welding automation in North America," said Christopher L. Mapes, Lincoln's chief executive, in a statement. "Tennessee Rand brings extensive tool design, system building and machining capabilities that will enable Lincoln to further expand its welding automation business."
Privately held Rand, started about 30 years ago, moved to its current 100,000-square-foot facility on a 23-acre site atop a ridge near Astec Industries' Roadtec subsidiary about a decade ago.
Lincoln serves markets such as general metal fabrication, power generation, structural steel construction, heavy equipment fabrication, shipbuilding, automotive, pipe mills and pipelines, and offshore oil and gas exploration and extraction.