EXHIBIT 21

LINCOLN ELECTRIC HOLDINGS, INC. AND SUBSIDIARIES

SUBSIDIARIES OF THE REGISTRANT

The Company’s subsidiaries and joint ventures are listed in the following table:

	COUNTRY OF
NAME	INCORPORATION	PERCENT OWNERSHIP
Bester S. A	Poland		91
The Lincoln Electric Company	United States		100
Harris Calorific Limited	Ireland		100
Harris Calorific S.r.l	Italy		100
Harris Calorific, Inc.	United States		100
Indalco Alloys, Inc.	Canada		100
Inversiones LyL S.A.	Chile		50
Kaynak Teknigi Sanayi ve Ticaret A.S	Turkey		50
Kuang Tai Metal Industrial Co., Ltd.	Taiwan		35
Lincoln Electric (U.K.) Limited	United Kingdom		100
Lincoln Electric Argentina, S.A.	Argentina		100
Lincoln Electric Company (Australia) Proprietary Limited	Australia		100
Lincoln Electric Company of Canada Limited	Canada		100
Lincoln Electric Do Brasil Ltda.	Brazil		100
Lincoln Electric France S.A.	France		100
Lincoln Electric International Holdings, Inc.	United States		100
Lincoln Electric Italia S.r.l	Italy		100
C.I.F.E. S.r.l	Italy		100
Lincoln Electric Mexicana, S.A. de C.V.	Mexico		100
Lincoln Electric Manufactura, S.A. de C.V.	Mexico		100
Lincoln Electric Norge AS	Norway		100
Lincoln Electric Philippines, Inc.	The Philippines		100
Lincoln Global, Inc.	United States		100
Lincoln Smitweld B.V	The Netherlands		100
Lincoln Smitweld GmbH	Germany		100
Lincoln-KD, S.A.	Spain		100
Lincoln Electric Venezuela, C.A	Venezuela		100
PT Lincoln Electric Indonesia	Indonesia		78
Sacit S.r.l	Italy		100
Tenwell Holdings Pte. Ltd.	Singapore		21
The Lincoln Electric Company (Asia Pacific) Pte. Ltd.	Singapore		100
Messer Soldaduras de Venezuela S.A.	Venezuela		100
World Wires S.r.l	Italy		69

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