Ceramic Industry News

Washington Mills Finalizes Exolon-ESK Acquisition

On August 16, 2001, Washington Mills Co., Inc. and Exolon-ESK merged as a result of an agreement by which Washington Mills acquired the Tonawanda, N.Y.-based supplier of aluminum oxide, silicon carbide and other electro fused materials for abrasive, refractory and surface finishing applications. Under the terms of the agreement, which was signed in March 2001, Washington Mills, through its wholly owned subsidiary Washington Mills Electro Minerals, purchased all of the outstanding Exolon-ESK shares. Upon the filing of the certificate of merger, Exolon-ESK Co. became a wholly owned subsidiary of Washington Mills. As such, Exolon-ESK has deregistered with the SEC and delisted from the Boston Stock Exchange to become a privately held company.

"We are anxious to begin the process of combining two of the country's oldest and most highly regarded manufacturers of abrasive materials," said Peter H. Williams, president of Washington Mills. "Between them, the two companies have over 220 years of experience in supplying abrasive products. We now intend to become even better suppliers to our customers through greater manufacturing efficiencies, enhanced process technology and an increased ability to respond quickly to customer needs."

The acquisition will reportedly provide Washington Mills with its own source of silicon carbide ore from Exolon-ESK's environmentally advanced Hennepin, Ill., plant.

For more information, call (800) 828-1666 or visit http://www.washingtonmills.com .

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