Nah no need to cut or weld any metal, its all there, I did this in my ute. It does leave a few holes here and there though.
You'll need the handbrake lever from a sedan and then just cut the carpet slightly where the handbrake lever is supposed to be and peel back the bit of sound deadening that covers the hole for the handbrake lever.
Get under the car and loosen the equiliser rod nuts for the handbrake and remove everything forward from this, so there is the lever by the door and the extra handbrake cable which goes towards the front of the car and around to the underside of the drivers side floor pan.
Once this is in, get the sedan / wagon etc handbrake lever and bolt it into the hole in the middle and connect it to the Y piece underneath the car for the handbrake. You may need to wire up the handbrake warning light, Im not sure if the ute wiring loom has it underneath the radio / air cond control area. When I swapped mine, I also swapped the wiring loom over to a executive one because I wanted central locking etc in my ute as well.
You end up with a few holes where the old handbrake was, and underneath the car where the handbrake goes, there are a few gaps too as it doesnt have the moulded floor pan piece on the three seaters.
Hope this helps.