ECONOMY INDUSTRIAL CORPORATION

Ferroalloy Casting Machines 
Installed at Elkem, Iceland (Formerly Icelandic Alloys)
in Grudnartangi, Iceland

NEWS RELEASE                                         14 Nov 08

For immediate release                 More info:  Tom  Allen   
                                                                    (1) 724-266-5720    

Foundry Inocculant Casting Machine
Installed at Elkem Iceland

AMBRIDGE, PA,  November 14, 2008

Elkem Iceland installed an Economy Industrial casting machine for the production of foundry inocculants. These products, similar to MgFeSi are used by foundries as additives to improve deoxidation and increase strength.

Economy's development program, based on its patented technology, custom designs the mould mass ratio, cooling time cycle, and water cooling application rate and method to minimize the steady-state peak temperatures of the moulds. Since allowing mould temperatures to reach high levels shortens their life, this process design results in longer mould life, with lower operating costs. A patent is pending on a technique to extend mould life.

This installation was the fourth machine purchased by Elkem, including the original installation at Bjoelvefossen A/S in Norway, Icelandic Alloys in Iceland, Elkem Canada in Chicoutimi, Quebec.

The machine was supplied with Economy Industrial's proprietary automatic control system, which adjusts the pouring spout with the tilt rate, and controls mould wash, water cooling, and burner operation.

Economy Industrial and its Predecessor, Bollinger Corp., have a long experience in ferroalloy casting, including ferrosilicon and ferromanganese. A laboratory test program conducted at the Center for Iron and Steel Research at Carnegie Mellon University, verified the close grain structure and self-sizing fracture qualities for both HC ferrochrome and HC ferromanganese. This self sizing reduces or eliminates the need for crushing, and results in far lower fines losses than conventional practice.

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