ESCO and Elecmetal have signed a joint venture agreement for a ground engaging tool (GET) foundry to be constructed in Chile. ESCO and Elecmetal have a nearly 50-year licensee relationship, and this joint venture further strengthens that bond. Elecmetal will continue to act as ESCO’s exclusive licensee in Chile. Construction of the new foundry is slated to begin in early 2008. Upon completion in 2009, it will supply GET products for the mining and construction markets.

ESCO (www.escocorp.com) is a global manufacturer of engineered metal wearparts and components for industrial applications. Mining is one of the principal industries that ESCO. Compania Electro Metalurgica (Elecmetal) participates in industrial and commercial activities related to metallurgy. It also has direct and indirect investment and/or operation in activities related to mining. Elecmetal is headquartered in Santiago, Chile.