Esco drops IPO plans

Esco drops IPO plans

Portland mining equipment manufacturer Esco is dropping plans to take the company public.

Despite an industry downturn, Esco said it's generating enough cash to meet its needs without selling stock to the public.

"We've made a decision to remain a private company, and that's primarily a result of strong financial performance that we've seen recently," said chief executive Cal Collins.

Read more at OregonLive.com.

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