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                                                                  EXHIBIT 21.1 

               SUBSIDIARIES OF THERMADYNE HOLDINGS CORPORATION 

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                                                     JURISDICTION 
                                                          OF 
NAME                                                 ORGANIZATION 
------------------------------------------------  ------------------ 
<S>                                              <C>
Arcair Stoody Europe S.A......................... Belgium 
C&G Systems Holding, Inc......................... Delaware 
C&G Systems, Inc................................. Illinois 
Canadian Cylinder Company........................ Canada 
Comet Property Holdings, Limited................. Philippines 
Comweld Group Pty. Ltd. ......................... Australia 
Comweld Hong Kong Limited........................ Hong Kong 
Comweld (Philippines) Inc. ...................... Philippines 
Coyne Acquisition Company........................ Delaware 
Coyne Natural Gas Systems, Inc. ................. Missouri 
Duxtech Pty. Ltd. ............................... Australia 
Genset SpA....................................... Italy 
Greymo S.A. ..................................... Spain 
Marison Cylinder Company......................... Delaware 
MECO Holding Company............................. Delaware 
Modern Engineering Company, Inc. ................ Missouri 
Philippine Welding Equipment Inc. ............... Philippines 
PT Catu Tehnik Arya Unggul....................... Indonesia 
PT Comweld Indonesia............................. Indonesia 
Quetack Pty. Ltd. ............................... Australia 
Quetala Pty. Ltd. ............................... Australia 
Quetala Unit Trust............................... Australia 
Stoody Company................................... Delaware 
TAG Realty, Inc. ................................ Texas 
THC Italia SRL................................... Italy 
Thermadyne Asia/Pacific Finance Company ......... Australia 
Thermadyne Asia/Pacific Finance PTY Ltd.  ....... Australia 
Thermadyne Asia/Pacific PTE Ltd. ................ Singapore 
Thermadyne Asia SDN BHD.......................... Malaysia 
Thermadyne Australia Pty. Ltd. .................. Australia 
Thermadyne Cylinder Company...................... California 
Thermadyne de Brasil S.C. LTDA................... Brazil 
Thermadyne de Mexico S.A. de C.V. ............... Mexico 
Thermadyne Foreign Sales Corporation............. Barbados 
Thermadyne Holding Company....................... Delaware 
Thermadyne Industries, Inc. ..................... Delaware 
Thermadyne Industries Limited.................... United Kingdom 
Thermadyne International Corp. .................. Delaware 
Thermadyne Italia S.P.A. ........................ Italy 
Thermadyne Japan, Ltd. .......................... Japan 
Thermadyne Korea, Ltd. .......................... Korea 
Thermadyne Receivables, Inc. .................... Delaware 
Thermadyne Welding Products of Canada, Ltd.  .... Canada 
Thermal Acquisition Company...................... Delaware 
Thermal Arc, Inc. ............................... Delaware 
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                                                     JURISDICTION 
                                                          OF 
NAME                                                 ORGANIZATION 
------------------------------------------------  ------------------ 
Thermal Arc Phils, Inc. ......................... Philippines 
Thermal Dynamics Corp. .......................... Delaware 
Tweco Acquisition Company........................ Delaware 
Tweco Products, Inc. ............................ Delaware 
Victor Acquisition Company....................... Delaware 
Victor Coyne International, Inc. ................ Delaware 
Victor Equipment Company......................... Delaware 
Wichita Warehouse Corporation.................... Kansas 
Woodland Cryogenics Company...................... Delaware 
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