Jan. 2006 — Morgan Construction Co.’s Morgoil^® Bearing Division has received a contract to manufacture Morgoil Bearings for Anshan Iron & Steel Group Corp., P.R. China.

The bearings will be installed in a new heavy plate mill that Anshan Iron & Steel Group is building in Liaoning Province. The bearings will be of the new Morgoil KLX design, which provides approximately 25% higher load capacity than bearings of the previous KL design. For the same load, the bearings can be smaller, which results in a reduction of the overall capital cost of the new plate mill.

The company notes that the newer KLX bearing also results in a stiffer bearing, and thus an improvement in strip quality.

Delivery of the bearings is scheduled to begin in the summer of 2006.

The Morgoil Bearing Division provides a wide range of oil film bearing solutions for the most demanding applications in the metal rolling industries worldwide. Its parent firm, Morgan Construction Co., is a designer and producer of high-quality rolling mill products and services for the metal industry worldwide.