.

.

ESCO Corporation’s Chairman, Hank Swigert, Steps Down

Portland, Oregon. — Hank Swigert began working for ESCO in 1955, following in the footsteps of his grandfather, ESCO founder, C.F. Swigert. Hank began his career at ESCO as a molder’s helper and later moved on to be a sales representative before being promoted to VP of Finance, where he worked for many years. Swigert served as Chairman of the ESCO Board of Directors for 24 years. Effective May 2, 2003, Swigert will be stepping down as Chairman, but will remain on the Board as a Director. CEO, Steve Pratt, was elected as the new Chairman.

“As chairman, I helped choose our board members. Without a doubt I am proud of them. For the last decade, six of the ten directors have been independent, without connection to the owners. They give me confidence that Steve Pratt will have the support and sound advice he needs to take ESCO to the next stage. It is fun for me to interact and serve with such an experienced, competent group of businessmen,” said Swigert. In addition to serving on the ESCO board of directors Swigert will continue his involvement with many local community organizations including: the World Forestry Center, Oregon Health and Sciences University and the Swigert Foundation.

Steve Pratt has been CEO & President of the ESCO Corporation since 1995. Steve has been employed with ESCO for the entirety of his career, beginning in the foundry-training program in 1972. He held positions in Danville, Illinois and Newton, Mississippi before returning to Portland, Oregon. Prior to his current role, his experience within the company ranged from plant management to VP of Manufacturing. Pratt has been a member of the ESCO Board of Directors since 1993.

“Hank is truly the ESCO story teller. Who better to promote ESCO than an employee who has served ESCO for 48 years and is a grandson of our founder? I look to Hank and the other board members to provide wisdom, advice and support as ESCO continues to grow into a global metals manufacturing force,” said Pratt.