The company’s board of directors met on November 10, 2023, and they have decided to raise the fee they pay to ESAB Europe Gmbh, Switzerland. This fee is for using the ESAB brand name and technology in their business. The current fee is 3%, but starting from January 1, 2024, they will be paying 5% as the new fee. This decision is to ensure they can keep using the ESAB brand and technology.
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