<PAGE>

     EXHIBIT 24.1

                               POWER OF ATTORNEY
                               -----------------


     The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.


                                 /s/ Donald W. Grinter
                                 -----------------------
                                 Donald W. Grinter



                                      61

<PAGE>

                               POWER OF ATTORNEY
                               -----------------


     The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.



                                 /s/ Jean-Pierre M. Ergas
                                 --------------------------
                                 Jean-Pierre M. Ergas


                                      62

<PAGE>

                               POWER OF ATTORNEY
                               -----------------


     The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.



                                 /s/ Willard H. Thompson
                                 -------------------------
                                 Willard H. Thompson


                                      63
<PAGE>

                               POWER OF ATTORNEY
                               -----------------


     The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.



                                 /s/ Richard A. Drexler
                                 ------------------------
                                 Richard A. Drexler


                                      64
<PAGE>

                               POWER OF ATTORNEY
                               -----------------


     The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.



                                 /s/Daniel W. Duval
                                 --------------------
                                 Daniel W. Duval

                                      65
<PAGE>

                               POWER OF ATTORNEY
                               -----------------


     The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.



                                 /s/ James E. Martin
                                 ---------------------
                                 James E. Martin



                                      66

<PAGE>

                               POWER OF ATTORNEY
                               -----------------

The undersigned, as a director and/or an officer of ABC-NACO Inc. (the
"Company"), does hereby constitute and appoint Joseph A. Seher and J. P.
Singsank, and each of them, as his true and lawful attorney-in-fact and agent,
with full power of substitution and re-substitution, for him and in his name,
place and stead, in any and all capacities, to sign the Company's Annual Report
on Form 10-K for the fiscal year ended July 31, 1999 and any and all amendments
thereto, and to file the same, with exhibits and schedules thereto, and other
documents therewith, with the Securities and Exchange Commission, granting unto
said attorney-in-fact, full power and authority to do and perform each and every
act and thing necessary or desirable to be done in and about the premises, as
fully to all intents and purposes as he might or could do in person, thereby
ratifying and confirming all that said attorney-in-fact, or his substitute, may
lawfully do or cause to be done by virtue hereof.

     IN WITNESS WHEREOF, I have hereunto set my hand this 23 day of September,
1999.



                                 /s/ George W. Peck IV
                                 -----------------------
                                 George W. Peck IV



                                      67