Portland, Ore.-based ESCO Corp. last week assumed 100-percent ownership of its ESCO Soldering joint venture. The ESCO Soldering business has about 450 employees and is located in Betim, Minas Gerais, Brazil, home to several large mining operations. The business will continue to be known as ESCO Soldering.
The joint venture was formed in May 2007 between ESCO and Soldering, a manufacturer of wear-resistant steel products for the mining, industrial, sugar, heavy construction and cement markets.
“We saw Soldering as an opportunity to create a strong industry leader by combining the complementary products and skills of Soldering and ESCO Corp.,” said ESCO president and CEO. “This partnership combined our two companies’ competitive advantages — Soldering’s strong reputation for superior products and technical capabilities. This business will provide distribution for ESCO products in the growing Brazilian market, combined with a strong manufacturing presence for premium wear solutions and services.”