ESCO(R) Finalizes Acquisition of Swift Group Engineering and Mining Divisions

PORTLAND, Ore., July 1 /PRNewswire/ -- ESCO Corporation is pleased to announce that it has completed its previously announced acquisition of Swift Group on July 1, 2010. The acquisition will include Swift Group's Engineering and Mining Products divisions.  Swift Cooling was not part of the acquisition and will remain under current management.

With the formal closing of the acquisition, ESCO welcomes approximately 275 new employees to its workforce of nearly 4,000 globally. ESCO will also gain three state-of-the-art facilities, including 4,532- and 2,038-square-meters manufacturing sites in Mackay and a 1,064-square-meters facility in Kingaroy, providing the company with the ability to accommodate anticipated growth in the near term.

"We are excited to welcome a highly-qualified and talented team of individuals to ESCO," said Jeff Kershaw, ESCO's managing director of the Asia Pacific region. "The reputation and expertise that Swift and its employees have developed over the past 30 years provides a solid platform for ESCO to expand its network of sales and service centers – known as ESCOSupply® – in Australia."  

The two Swift Group Divisions will operate as ESCOSupply, and will continue to provide equipment, truck and wear part fabrication and refurbishment services, including on-site maintenance services, in the Bowen and Surat Basins. ESCOSupply will also continue to produce the SEBBA truck body product line, with support from ESCO's product development group, as the brand transitions to ESCO.  ESCOSupply currently offers a complete range of crusher wear manganese products and bi-metallic wear buttons and blocks in Australia.  

ESCOSupply will further expand its product range in 2011 to include the full-line of  ESCO's Ground Engaging Tools (GET), ESCO mining and construction buckets and wear parts, and a new generation of ESCO Pro-Fill™ high-production, purpose-built dragline buckets and rigging packages to increase mine production and reduce maintenance downtime and costs.  This full range of products and services, backed by ESCO Corporation's global supply chain, will provide a superior locally-serviced offering in the Australian market.  

About ESCO Corporation

ESCO (www.escocorp.com) is a leading global provider of highly engineered consumable products and solutions for challenging industrial applications in the resources, infrastructure, power generation and transportation markets. The company operates on six continents, supplying ESCO branded products through a global distribution network, close to our customers, delivering superior quality, value and speed.

SOURCE ESCO Corporation