updated 6/14/2011 9:17:57 PM ET 2011-06-15T01:17:57

ST. LOUIS, June 14, 2011 (GLOBE NEWSWIRE) -- Thermadyne Holdings Corporation today announced that it will be relocating the manufacturing operations of Thermal Dynamics, its wholly owned subsidiary and manufacturer of plasma cutting and welding equipment located in West Lebanon, New Hampshire, to its other North American facilities. Engineering, technical services and returned goods functions and a small assembly operation will remain at the West Lebanon location.

Martin Quinn, Thermadyne's Chief Executive Officer, stated, "Consistent with our ongoing continuous improvement initiatives, we thoroughly evaluated the total cost structure, overall production capacity and global footprint of the Company, and concluded that this consolidation is critical to our ability to better serve our customers and grow our business profitably. We expect that the relocation of our plasma cutting and welding equipment manufacturing operations to our Denton, Texas and Hermosillo, Mexico, facilities will further improve our responsiveness to customers and maximize the capacity and utilization of our equipment and other operating assets. We expect a seamless transition for our distributors and for our end user customers."

The Company expects to have substantially completed these activities by December 31, 2011. The consolidation is expected to impact approximately 100 employees.

About Thermadyne

Thermadyne, headquartered in St. Louis, Missouri, is a leading global manufacturer and marketer of metal cutting and welding products and accessories under a variety of leading premium brand names including Victor®, Tweco® / Arcair®, Thermal Dynamics®, Thermal Arc®, Stoody®, TurboTorch®, Firepower® and Cigweld®. For more information about Thermadyne, its products and services, visit the Company's website at www.Thermadyne.com .

The Thermadyne Holdings Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4937

Cautionary Statement Regarding Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. These risks and factors are set forth in documents the Company files with the Securities and Exchange Commission, specifically in the Company's most recent Registration Statement on Form S-4 and other reports it files from time to time.

CONTACT: Debbie Bockius
         636-728-3031

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

Discuss:

Discussion comments

,

Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 5.03%
$30K home equity loan FICO 5.68%
$75K home equity loan FICO 4.87%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.42%
13.42%
Cash Back Cards 17.94%
17.94%
Rewards Cards 17.15%
17.15%
Source: Bankrate.com