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Cascade Corp. Acquires the Forged Fork Division of Erectoweld Co. Ltd.

9 July 1999

Cascade Corp. Acquires the Forged Fork Division of Erectoweld Co. Ltd.

    PORTLAND, Ore.--July 8, 1999--Robert C. Warren, Jr., president and chief executive officer of Cascade Corporation, announced the asset purchase of the Forged Forks Division of Erectoweld Company Limited, based in Oakville, Ontario.
    Cascade took possession of the manufacturing assets on July 7, 1999. All production employees have been retained by Cascade.
    The Forged Forks Division primarily manufactures and markets large specialty forks for use on lift trucks and construction equipment. The division had revenues of approximately USD3,000,000 last year.
    Warren noted that the acquisition represents an excellent strategic fit for Cascade. Located 30 miles from Cascade's Guelph, Ontario, fork manufacturing plant, Forged Forks provides an opportunity to achieve significant benefits from the combination of more efficient production scheduling, material cost savings and increased capacity. Warren added that "This additional capacity should help Cascade normalize order lead times during periods of heavy demand."
    Cascade Corporation, headquartered in Portland, Oregon, is a leading international manufacturer of lift truck attachments, forks, and accessories.

    Under the "safe harbor provision" of the Private Securities Litigation Act, Cascade Corporation is required to advise you that this news release contains "forward-looking statements" based on assumptions as to future sales and earnings, which in turn are dependant on economic conditions in general including interest rates, and on competitive factors in, and on the cyclical nature of the Materials Handling Industry.