ESCO Corporation announced today that after careful consideration it has independently decided to remain a private company and will not proceed with an initial public offering (IPO).

ESCO Corporation, a leading global provider of wear parts and attachments for the mining, construction & industrial and oil & gas industries, has promoted Eric Blackburn to Senior Vice President, Corporate Development and the ESCO Business System (EBS). In his new role, Blackburn will have executive oversight of the recently formed EBS Office while retaining responsibility for corporate development and strategic planning.

Nemisys™, ESCO Corporation’s state-of-the-art mining lip system, has won Mining Magazine’s 2012 Surface Mining (Soft Rock) Award. The annual award recognizes outstanding new technologies and innovative applications in the mining industry.

ESCO commissioned ECONorthwest, a Portland-based consulting firm, to conduct the economic study using 2011 business results. ESCO leaders chose the Portland site for this study because it is home to ESCO’s global headquarters and, with two foundries in the area, it is the company’s largest operation.

ESCO Corporation announced today that its Northgate, Queensland foundry is closing, effective immediately. Subject to a period of consultation, it is expected that up to sixty-nine positions will be lost as a result of the closure.

ESCO Corporation, a leading global provider of wear parts and complementary services for the mining, oil & gas, and infrastructure industries, announced today that it has successfully closed on its previously announced definitive agreement to sell Turbine Technologies Group to Consolidated Precision Products Corp. (CPP). Terms of the transaction were not disclosed.

ESCO Corporation announced today that it has acquired Brazier Mine Construction in a strategic asset purchase that significantly increases ESCO’s on- and near-site service offering in the Powder River Basin. The acquisition includes the company’s field service equipment fleet and four fabrication and service locations.

The Balikpapan location will bring a high level of customer service and innovative products to this expanding market in Indonesia.

Ulterra designs and manufactures polycrystalline diamond compact drill bits used in the construction of oil and gas wells. The acquisition of Ulterra provides ESCO with entry into the oil and gas industry and complements ESCO’s existing businesses in the development of wear solutions.