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ESCO Corporation Purchases Canadian Quality Steel Foundries Ltd. and SRW Technologies

Portland, Oregon — ESCO Corporation (ESCO) is pleased to announce it has acquired the assets of privately owned Quality Steel Foundries Ltd. (QSF) and SRW Technologies (SRW) effective May 24, 2005. The companies will keep their current names, with the addition of the designator, ESCO Engineered Products.

The acquisition of QSF/SRW is a strategic move into the unique and growing resource based markets in Western Canada, including oil sands and coal mining. Resource based business is growing, and ESCO is investing to meet the current and future needs of mining and industrial customers. QSF facilities in Nisku (Alberta) and Saskatoon (Saskatchewan), and SRW in Edmonton (Alberta) are geographically well situated to serve these customers.

Both QSF and ESCO products will continue to be manufactured and distributed, ensuring maximum choice for mining customers. All three acquired facilities will increase production volumes, as they will continue to produce QSF branded products and add selected ESCO products to their manufacturing output.

ESCO Corporation is a global group of companies that manufactures engineered metal parts and components for industrial applications. A privately held company, ESCO Corporation is headquartered in Portland, Oregon, U.S.A. The company employs over 3,700 in four operating groups with manufacturing, distribution, and sales offices on six continents.

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