ESAB, Elektriska Svetsnings-Aktiebolaget, is an American Swedish industrial company. The ultimate parent company of ESAB is Colfax Corp., a New York Stock Exchange listed, Delaware incorporated company with its principal executive office in Fulton, Maryland U.S.A.
ESAB has been operating in russia for more than 20 years, has created more than 6 thousand jobs, has more than 150 distributors represented in all federal districts, and has 2 plants in russia (St. Petersburg and Tyumen) and the ESAB Technology Centre in Krasnogorsk, Moscow Region (provides technology development, training and equipment demonstrations). These plants produce russian and ESAB-branded welding materials, as well as electrodes, wires and fluxes as part of the import substitution programme. In russia, ESAB operates through Esab LLC (taxpayer ID: 7704219345). The organisation's revenue for 2021 was RUB 12.7 billion or $180 million, with net profit of RUB 3.1 billion or $44.2 million. At the same time, Esab has not published its financial results report for 2022.
On 01.06.2022, the company announced the continuation of its operations in russia: "One of the most popular questions to our team and me in particular is whether we plan to stay in the russian market. The answer is unequivocal: we will continue to work!" said Alexey Nuzhny, CEO of ESAB, russia and CIS. The Director of ESAB Welding Materials continued: "We are facing challenging times, but the ESAB team sees them as opportunities. Our task is to increase production and expand the local range of products." In June 2023, ESAB announced the start of production of vacuum-packed welding electrodes in Russia. ESAB, through its russian distributors Acropolis and Weldexpert, also presented high-tech welding equipment at the STT Expo and Metalworking 2023 trade shows.