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ESCO Corporation Set for Initial Public Offering

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.

Joel Scanlon

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Joel Scanlon

Joel, originally from the UK, emigrated to Australia in 1995 and spent 5 years working in the mining industry as an exploration Geo-technician where he developed skills in GIS Mapping and CAD. Joel also spent a year working underground in a gold/copper mine. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm before starting a successful business providing graphic and web design services to local businesses on the eastern seaboard of Australia. Joel is skilled in project management, content production, design, animation, database and networking, software, and editing. Joel has been with AZoNetwork since its inception in 2000.


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