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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 emigrated to Australia in 1995 and worked for five years in the mining industry as an exploration geotechnician, using GIS mapping and CAD software. Upon moving to the North Coast of NSW, Australia Joel worked as a graphic designer for a leading consultancy firm. After that, he ran a successful business providing web services to businesses along the eastern seaboard of Australia. During this time, he developed and launched News-Medical.Net. Joel has been working with AZoNetwork since the company was founded in 2000.

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