July 19, 2007 — Portland-based Esco Corp. has entered into a joint venture with Elecmetal, S.A. to build a new foundry in Chile, to produce a ground-engaging tool. No project cost was released, nor any design details.

Esco produces engineered metal wearparts for mining, construction, power-generation, and other industrial equipment.

Compania Electro Metalurgica S.A. (Elecmetal) is a Santiago, Chile, holding company for a wide range of industrial operations. Esco indicates it has had a licensing relationship with Elecmetal for almost 50 years, and that the joint venture "strengthens" their bond.

For the new foundry, construction will begin early in 2008 for completion in 2009. It will supply ground-engaging tools for mining and construction equipment manufacturers.