About the Parties:

Jinzhou Special Welding Electrode Co., Ltd. is in the business ofmanufacturing and sale of hardfacing electrodes, has an experienced salesforce, and established marketing channels in China.

Rankin Industries, Inc., President Richard A. Ferry says "Rankin willbring flux cored wire manufacturing, processing, and formulation know how tothe joint venture. Rankin also brings extensive experience in marketinghardfacing products in the U.S. and global arena."

About Welding Demand:

The world output of steel is a leading indicator of the worldwide demandfor welding products. According to the World Steel Association (formerly theInternational Iron and Steel Institute), the 2006 world output of crude steelreached 1,240 million metric tons (mmt), up by nearly nine percent from 2005.World steel production in 2007 grew to 1,344 (mmt), an increase of more thanseven percent. China's economic growth has continued to fuel a huge demand forwelding products. Energy, mining, construction, and agriculture aresignificant users of welding products. The welding material market increaseswith the growth of steel material consumption. In 2007, the consumption ofcrude steel in China was 434 million tons, up nearly 12 percent. In 2008,China's consumption of crude steel is expected to be more than 35 percent oftotal world consumption and rise by 11 percent.

Terms of the agreement were not disclosed.

Rankin(R) Industries is a designer and manufacturer of a full range ofbuild-up and hardfacing products and specialty alloys. Its sister companiesinclude Broco(R), Inc., the world leader in exothermic cutting and underwaterwelding systems; and Strong Welding Products(R), Inc., which offers aselection of cost-effective welding products. The companies serve theindustrial maintenance and repair market. Visit http://www.Rankin.com for moreinformation.

SOURCE Rankin Industries, Inc.