Posted in | News | Mining Business

ESCO Corporation Set for Initial Public Offering

By Joel ScanlonMay 3 2011

ESCO Corporation has filed for an Initial Public Offering with U.S. regulators on Monday. The mining equipment component maker is looking to list stock on Nasdaq under the ESCO symbol. It hopes to raise $175 million plus from the sale of its shares on the market.

Goldman, Sachs & Co. and Morgan Stanley & Co. Incorporated are acting as joint book-running managers for the offering. The shares on offer and price for the same have yet to be determined. It has filled in a Form S-1 with the U.S. Securities and Exchange Commission for the IPO.

The product range manufactured by ESCO Corp includes highly engineered wear parts and replacement products used in surface mining, infrastructure development, power generation, aerospace and industrial applications.

The Portland, Oregon based company reported net sales of $849.5 million last year and is currently operational in 19 countries on six continents. This includes an expansive network of 26 manufacturing locations and 35 sales and distribution facilities.

Written by

Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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