Growth and Profitability
During the 1970s, ESCO opened highly automated foundries in Newton, Mississippi and Port Hope, Ontario. In 1973, the company again demonstrated technological leadership by becoming the first steel foundry in the world to use the AOD (Argon Oxygen Decarburization) process to produce alloys of unprecedented purity and toughness. First installed at the Portland, Oregon plant, the advantageous AOD vessels were later added at ESCO’s facilities in Mississippi and Canada.
At the end of the decade, the company added the V-Process to its menu of sophisticated steel casting techniques – a vacuum molding process that results in castings with outstanding surface and dimensional qualities. The decade of the 1970s was a period of strong growth and profitability for ESCO Corporation, with direct worldwide employment approaching 3,000 and annual sales in excess of $100 million.