January 30, 2006

Appointment

Ellwood Texas Forge is very pleased to announce the appointment of Mark S. Cianci as President. Mark will be responsible for all ETF activities – reporting to Dr. Michael Henthorne, Group Executive for Ellwood's forging companies in Pennsylvania and Texas .

Mr. Cianci has over 20 years experience in closed die forging and casting – including top management experience with leaders in the industry. Mark has a BS in Metallurgy, is a Six Sigma Master Black Belt and has had extensive training and practice in the Theory of Constraints and Lean Manufacturing.

Mark joins us at a time of great challenge, as Ellwood Texas Forge strives to maintain high market shares in its key core markets while at the same time continuing growth and diversification into new markets.