UNITED STATES
                         SECURITIES AND EXCHANGE COMMISSION
                               WASHINGTON, D.C. 20549

                                      FORM 10-Q
          (Mark   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
           One)               SECURITIES EXCHANGE ACT OF 1934
           [X]

             For the quarterly period ended         March 31, 2000


                                         OR

           [ ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE
                              SECURITIES EXCHANGE ACT OF 1934


           Commission file number                  1-7276

                                 EXOLON-ESK COMPANY
               (Exact name of registrant as specified in its charter)


                  Delaware                            16-0427000
               --------------                       ---------------
              (State or other                      (I.R.S. Employer
              jurisdiction of                     Identification No.)
              incorporation or
               organization)

                 1000 East Niagara Street, Tonawanda, New York 14150
                 ---------------------------------------------------
                     (Address of Principal Executive Offices)
                                    (Zip Code)

                                  (716) 693-4550
                 --------------------------------------------------
                (Registrant's telephone number, including area code)



           (Former name, former address and former fiscal year, if changed
                                 since last report)


          Indicate by check mark whether the registrant (1) has filed all
          reports required to be filed by Section 13 or 15(d) of the
          Securities Exchange Act of 1934 during the preceding 12 months
          (or for such shorter period that the registrant was required to
          file such reports), and (2) has been subject to such filing
          requirements for the past 90 days.  YES  X    NO ____

          As of April 28, 2000 registrant had outstanding 481,995 shares
          of $1 par value Common Stock and 512,897 shares of $1 par value
          Class A Common Stock.


                          PART I - FINANCIAL INFORMATION
                          Item 1.  Financial Statements
                                Exolon-ESK Company
                       Consolidated Condensed Balance Sheet
                       (in thousands except share amounts)

                                                 (Unaudited)
       ASSETS                                       March 31, December 31,
                                                         2000         1999
                                                   ---------- ------------
       Current assets:

            Cash                                       $5,816      $ 5,328
            Accounts receivable (less allowance
             for doubtful accounts of $150 in           6,078        6,109
             2000 and $150 in 1999)
            Income Taxes Recoverable                      194          759
            Inventories                                15,686       16,929

            Prepaid expenses                              338          237
            Deferred income taxes                         250          249
                                                    ---------    ---------
            Total Current Assets                       28,362       29,611
       Investment in Norwegian joint venture            5,316        5,464
       Property, plant and equipment, at cost          77,111       76,633

       Accumulated depreciation                      (52,428)     (51,564)
                                                    ---------    ---------
            Net property, plant and equipment          24,683       25,069
       Bond sinking fund                                3,630        3,335
       Other assets                                     1,586        1,609
                                                    ---------    ---------
       Total Assets                                   $63,577      $65,088
                                                    =========    =========

       LIABILITIES AND STOCKHOLDERS' EQUITY
       Current liabilities:
            Note payable                           $    1,299   $   1,436

            Current maturities of long-term debt
              and sinking fund requirements               967          967
            Accounts payable                            2,939        3,754
            Accrued expenses                            1,301        1,550
                                                    ---------    ---------
                 Total Current Liabilities              6,506        7,707
       Deferred income taxes                            2,340        2,342

       Long-term debt excluding current portions       19,833       19,833
       Other long-term liabilities                      2,134        2,296
                                                    ---------    ---------
                 Total Liabilities                     30,813       32,178
                                                    ---------    ---------
       Stockholders' equity:

            Preferred stock - Series A -
             19,364 shares issued                         276          276
            Preferred stock - Series B -
             19,364 shares issued                         166          166
            Common stock, $1 par value -
             512,897 issued, 481,995 outstanding          513          513
            Class A common stock, $1 par value -
             512,897 issued/outstanding                   513          513
            Additional paid-in capital                  4,345        4,345
            Retained earnings                          28,647       28,793
            Accumulated other comprehensive
             income                                   (1,328)      (1,328)

            Treasury stock, at cost                     (368)        (368)
                                                      -------     --------
                 Total Stockholders' Equity            32,764       32,910
                                                      -------     --------
       Total Liabilities and Stockholders'
         Equity                                       $63,577      $65,088
                                                     ========     ========
         The accompanying notes are an integral part of these statements.

                                Exolon-ESK Company
                  Consolidated Condensed Statements of Operations
                                     Unaudited
                      (in thousands except per share amounts)

                                                     Three Months
                                                    Ended March 31,
                                                    --------------


                                                      2000   1999
                                                    ------  ------
       Net sales                                    $13,534 $14,223
       Cost of goods sold                            11,175  12,041
                                                     ------ -------
            Gross Profit                              2,359   2,182
                                                     ------ -------
       Operating Expenses
       Depreciation                                     890     915
       Selling, general & administrative
        expenses                                      1,118   1,232
       Research and development                          17      17
                                                     ------ -------

            Total Operating Expenses                  2,025   2,164
                                                     ------ -------

       Operating (Loss) Income                          334      18
                                                     ------ -------


       Other Income (Expense):
            Equity in (Loss)Earnings before
             income taxes of Norwegian                (148)    (74)
             Jt. venture
            Interest expense                          (323)   (399)
            Miscellaneous income(expense)               (8)     588
                                                     ------  ------

            Total Other Income(Expense)               (479)     115
                                                     ------  ------

       Earnings before income taxes                   (145)     133

       Income tax benefit (expense)                       9    (56)

       Net (Loss)Earnings                            ($136)     $77
                                                     ======  ======

       Earnings Per Common Share:

            Basic                                   ($0.15)   $0.07
            Diluted                                 ($0.14)   $0.07

       Earnings Per Class A Common Share:
            Basic                                   ($0.15)   $0.06
            Diluted                                 ($0.14)   $0.06


            The accompanying notes are an integral part of these statements.


                                  Exolon-ESK Company
                   Consolidated Condensed Statements of Cash Flows
                                      Unaudited
                                    (in thousands)
                                                          Three Months
                                                        Ended March 31,

                                                          2000     1999
                                                         -----    -----

              Net cash provided by operating activities $1,408   $2,220
                                                        ------   ------


              Cash Flow from Investing Activities:
                  Capital expenditures                   (478)    (409)
                                                         -----    -----

              Cash Flow from Financing Activities:
                  Net payments on long-term debt         (137)  (1,292)

                  Payments to bond sinking fund          (294)    (262)
                  Dividends paid                          (11)        -
                                                         -----   ------
              Net Cash (Used in)Provided by Financing
              Activities                                 (442)  (1,554)
                                                         -----   ------


              Net increase in cash                         488      257

              Cash at beginning of period                5,328    5,289
                                                         -----    -----

              Cash at end of period                     $5,816   $5,546
                                                        ======   ======


                 The accompanying notes are an integral part of these
                                     statements.


                                 EXOLON-ESK COMPANY
                NOTES TO CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                                     (Unaudited)


          NOTE 1    The  accompanying   unaudited  consolidated   condensed
                    financial statements have  been prepared in  accordance
                    with generally accepted accounting principles for interim
                    financial information and with the instructions to Form
                    10-Q and Article 10 of Regulation S-X.  Accordingly, they
                    do not  include all  of the  information and  footnotes
                    required by generally accepted accounting principles for
                    complete  financial statements.    In  the  opinion  of
                    management, all  adjustments    (consisting  of  normal
                    recurring accruals)  considered  necessary for  a  fair
                    presentation have been included.  Results for the period
                    ended March 31, 2000 are not necessarily indicative  of
                    the results that  may be expected  for the year  ending
                    December 31, 2000.

                    For  further  information,   refer  to  the   financial
                    statements  and footnotes  thereto for  the year  ended
                    December 31, 1999 included in the Company's Annual Report
                    on Form  10-K filed  with the  Securities and  Exchange
                    Commission.

          NOTE 2    The following are the major classes of inventories  (in
                    thousands) as of March 31, 2000 and  December 31, 1999:


                                                March  31,
                                                      2000 December 31,
                                               (Unaudited)         1999
                                              ------------  -----------
                    Raw Materials                     $777        $1,092

                    Semi-Finished and
                     Finished Goods                 17,231        17,713

                    Supplies and Other                 740         1,186
                                                 ---------      --------

                                                    18,748        19,991
                     Less:  LIFO Reserve           (3,062)       (3,062)
                                                 ---------      --------

                                                   $15,686       $16,929
                                                 =========      ========

          NOTE 3    Contingencies


               a.   Environmental issues

                    (i)  Hennepin, Illinois Plant


                    On October 6, 1994, the Company entered into a  Consent
               Order (the Consent Order ) with the Illinois Attorney General
               and the Illinois Environmental Protection Agency ( IEPA ) in
               complete settlement  of a complaint  brought by them,  which
               alleged that  the Company had  violated certain air  quality
               requirements  in the  operating  permit  for  its  Hennepin,
               Illinois plant.  The Consent Order provided a schedule for the
               Company to install a Continuous Emissions Monitoring  System
               (CEMS) and to implement the required Best Available Control
               Technology ( BACT )  for air emissions, pursuant to an  IEPA
               approved construction and operating permit.

                    During 1998, the Company completed installation of  the
               CEMS and implementation of the BACT as required by the Consent
               Order.  A revised construction permit was received on December
               27, 1999, verifying that the project was in compliance  with
               all applicable Board emissions and utilized BACT for  sulfur
               dioxide. The air quality analysis showed compliance with the
               allowable sulfur dioxide increment.

               (ii)  Superfund Site

                    A Special Notice of Liability was received by the Company
               from the US EPA for the Remedial Design/Remedial Action Phase
               of the Lenz Oil Services, Inc. Superfund Site.  The Company is
               one of  over seventy potentially  responsible parties.   The
               Notice alleges  joint and several  liability based upon  the
               premise that the soil and ground water were contaminated with
               oil and solvent waste containing hazardous constituents.  The
               ultimate liability that could result from this Site and Notice
               cannot be presently determined.  A period of negotiations is
               scheduled to occur during 2000.

               (iii)  Norwegian Joint Venture

                    The Government of Norway held discussions with  certain
               Norwegian  industries   including  the   abrasive   industry
               concerning the  implementation of  reduced gaseous  emission
               standards.  The Company's joint venture is participating  in
               these discussions to help achieve the Norwegian Government's
               objectives as well as assuring long-term economic  viability
               for the joint venture.

                    The Norwegian  State  Pollution Control  Authority  has
               issued limits regarding  dust emissions  and Sulfur  Dioxide
               emissions that will apply  to all Norwegian silicon  carbide
               producers.  Specific target emission limits have been set, and
               a compliance timetable ranging from the present until January
               1, 2001  has been established.   The  costs associated  with
               achieving  compliance with  these limits  have been  tightly
               controlled as a result of various alternatives presently being
               considered by the Norwegian joint venture.  The joint venture
               has met the sulfur  requirements with changes in  production
               techniques and raw material procurement including low sulfur
               coke.

                    b.   Legal Matters

                    (i)  Federal Proceedings and Related Matters


                    On October 18, 1994, a lawsuit was commenced in the U.S.
               District Court for the Eastern District of Pennsylvania (No.
               94-CV-6332) under the title "General Refractories Company v.
               Washington Mills Electro Minerals Corporation and Exolon-ESK
               Company."   The suit purports to  be a class action  seeking
               treble damages from the defendants for allegedly  conspiring
               with unnamed co-conspirators during the period from January 1,
               1985 through the date of the complaint to fix, raise, maintain
               and stabilize the price of artificial abrasive grains and to
               allocate among themselves their major customers or  accounts
               for purchases of artificial grains.  The plaintiffs allegedly
               paid more for  abrasive grain products than they would  have
               paid in the  absence of such anti-trust violations and  were
               allegedly damaged in an amount that they are presently unable
               to determine. On or about July 17, 1995, a lawsuit captioned
                Arden Architectural  Specialties, Inc. v. Washington  Mills
               Electro Minerals Corporation and Exolon-ESK Company,  (95-CV-
               05745(m)), was commenced in the United States District Court
               for the Western District of New York.  The Arden Architectural
               Specialties complaint purports to be a class action that  is
               based on the same matters alleged in the General Refractories
               complaint.  In October 1997, the Norton Company was named an
               additional defendant in both cases.  The ultimate liability,
               if any, that could result from these lawsuits cannot presently
               be determined,  although the  Company believes  that it  has
               meritorious defenses to the  allegations, and it intends  to
               vigorously defend against the charges.



               NOTE 4    Comprehensive Income

                         During the three months  ended March 31, 2000  and
                         1999,  total   comprehensive  income,  which   was
                         comprised  of  net  income  and  foreign  currency
                         translation adjustments, equaled net income.


               NOTE 5    Earnings Per Share

                    The following table sets forth the computation of basic
               and diluted  earnings per share  (in thousands except  share
               information):


                                                       Three Months Ended
                                                           March 31,
                                                       2000         1999
                                                      ------        ------
              Numerator: Net income
               available to common                    ($147)        $  66
               stockholders after preferred           ======       =======
               stock dividends
               Numerator for basic earnings
               per share:

                   Common stockholders (50%)            (73)           33
                   Class A common                       (74)           33
                    stockholders (50%)                ------       ------

                                                       (147)           66

               Effect of Dilutive Securities-
                Preferred Stock Dividends                 -            -
               Net income available to common
                stockholders after assumed
                conversion of preferred stock         ($147)         $ 66
                                                      ======       ======

               Numerator for diluted earnings
               per share:
                   Common stockholders (50%)            (73)           33

                   Class A common
                    stockholders (50%)                  (74)           33
                                                      ------       ------
                                                      ($147)         $ 66
                                                      ======       ======

          Note 5:

               Earnings Per Share - Con't

               Denominator: Common stock
                   Denominator for basic             481,995      481,995
                    earnings per share -
                    weighted average shares
                   Effect of dilutive
                    securities - convertible               -            -
                    preferred stock                   ------       ------

                   Denominator for diluted
                    earnings per share -
                    adjusted weighted average
                    shares and assumed               481,995      481,995
                    conversions                       ======       ======
                 Class A common stock:

                   Denominator for basic
                    earnings per share -             512,897      512,897
                    weighted average shares
                   Effect of dilutive
                    securities - convertible               -            -
                    preferred stock                   ------       ------

                   Denominator for diluted
                    earnings per share -
                    adjusted weighted average
                    shares and assumed               512,897      512,897
                    conversions                       ======       ======


              Basic Earnings Per Share:
                   Common Stock                       ($0.15)      $0.07

                   Class A Common Stock               ($0.14)      $0.06


              Dilutive Earnings Per Share:

                   Common Stock                       ($0.15)      $0.07

                   Class A Common Stock               ($0.14)      $0.06


              The  effect  of  the  convertible  preferred  stock  was  not
              considered  for 2000 and 1999  because the effect would  have
              been anti-dilutive.


              Item  2.  Management's  Discussion and Analysis of  Financial
              Condition and Results of Operations

              Results of Operations

              Comparison of the three months ended March  31, 2000 with the
              three months ended March 31, 1999.

              Net Sales.  Net sales decreased $689,000 to $13,534,000 in the
              first three months of 2000, a decrease  of 5% compared to net
              sales of $14,233,000 in the first three  months of 1999.  The
              decline in sales was due to a decrease in volume and increased
              pressur e on  prices  resulting  from a  decrease  in  demand
              combined with an increase in foreign competition.

              Gross  Profit. Gross profit  before depreciation expense  was
              $2,359,000  in the  first three  months of  2000 compared  to
              $2,182,000 in the first three months of 2000.  As a percent of
              sales, gross margins were 17.4% in the  first three months of
              2000 compared to 15.3% in the first three months of 1999. The
              increase  in  gross profit  as  a percent  of net  sales  was
              attribu ted  to  overall  cost  reduction    efforts  at  all
              facilities,  which included running  furnaces using off  peak
              electricity and reducing general and administrative expenses.

              Operating Expenses. Operating expenses including depreciation,
              were $2,025,000 during the first three months  of 2000 versus
              $2,164, 000 during  the  first three  months  of 1999.    The
              decreas e in  operating  expenses  is a  result  of  spending
              reductions   of   $114,000  in   selling  and   general   and
              administrative  expenses. Depreciation as a percent of  sales
              was  6.6% in the first three months of 2000 compared to  6.4%
              for the first three months of 1999.

              Operating Income.  Operating income was $334,000 in the first
              three  months of 2000 compared to $18,000 in the first  three
              months of 1999. The increase in operating income is primarily
              due to cost reduction efforts noted above.

              Norwegian Joint Venture.  The company's 50% share of the pre-
              tax earnings of its Norwegian joint venture, Orkla Exolon A/S
              was  a loss  of $148,000 for the  first three months of  2000
              versus a loss of $74,000 in the first three months of 1999.

              Interest and Miscellaneous Income. Interest expense decreased
              to $323,000 in the first three months of 2000 versus $399,000
              in the first three months of 1999.   The decrease in interest
              expense is primarily due to lower outstanding balances on the
              Company's line of credit.  Miscellaneous expense of $8,000 was
              received   in  the  first   three  months   of  2000   versus
              miscellaneous income of $588,000 incurred in the  first three
              months of 1999.  In 1999, the  Company's miscellaneous income
              was due to the settlement of a business interruption claim in
              Thorold  related to  an  incident in  1998 and  class  action
              settlements of two antitrust litigation claims from suppliers
              of materials to Exolon-ESK.

              Income  Tax.  The Company's effective tax rate for the  first
              three months of 2000 was an overall  6% tax benefit comprised
              of a  42% effective  tax rate expense  on US  income and  36%
              effective tax rate benefit on foreign losses versus a combined
              effective tax rate expense of 42% for  the first three months
              of 1999.

              Liquidity and Capital Resources

              As  of March 31, 2000,  working capital (current assets  less
              current liabilities) has decreased by $48,000 to  $21,856,000
              when  compared  to  $21,904,000  as  of  December  31,  1999.
              Inventories have decreased by $1,243,000 from $16,929,000  as
              of December 31, 1999 to $15,686,000 as of March 31, 2000.

              For the three months ended March 31,  2000, net cash provided
              by  operating  activities  was  $1,408,000.    Cash  reserves
              increas ed by  $488,000  as of  March  31, 2000  compared  to
              December 31, 1999.  Net cash provided by operating activities
              was  used to reduce outstanding debt by $431,000 and to  fund
              capital expenditures of $478,000.

              The Company's current ratio increased to 4.4  to 1.0 at March
              31, 2000 from 3.8 to 1.0 as of December 31, 1999. The ratio of
              total liabilities to shareholders' equity remained 1.0 to 1.0
              as  of  March 31,  2000 and  December 31,  1999.   Management
              believes that  the cash provided by operations and  long-term
              borrowing arrangements will provide adequate funds for current
              commitments and other requirements in the near future.

              Reference is made to the information included in Note 3(b) to
              the Notes to Consolidated Condensed Financial Statements under
              the  caption  Legal Matters ,  which is hereby  incorporated
              herein by reference.

              Impact of the Year 2000

              The Company is  not aware of any material problems  resulting
              from Year 2000 issues, either with its products, its internal
              systems, or the products and services of  third parties.  The
              Company will continue to monitor its mission critical computer
              applications and those of its suppliers and vendors throughout
              the year 2000 to ensure that any latent Year 2000 matters that
              may arise are addressed properly.

              PART II - OTHER INFORMATION

              Item 1.  Legal Proceedings

                   Reference is made to the information included  in Note 3
              to  the Consolidated  Condensed Financial  Statements of  the
              Company included under Part I, Item 1 of this Form 10-Q, which
              is hereby incorporated herein by reference.

              Item 2.  Change in Securities - None


              Item 3.  Defaults Upon Senior Securities - None


              Item 4.  Submission of Matters to a Vote of Security Holders -

              None


              Item 5.  Other Information - None


              Item 6.  Exhibits and Reports on Form 8-K

                   (a)   Exhibits

                   The following exhibits are included herein:

                   27   Financial Data Schedule

                   (b)   Reports on Form 8-K

                        None



                                        SIGNATURE

                   Pursuant to the requirements of the Securities  Exchange
              Act of 1934, the registrant has duly caused this report to be
              signed  on  its  behalf  by the  undersigned  thereunto  duly
              authorized.

              EXOLON-ESK COMPANY



              /s/J. Fred Silver
              ________________________
              J. Fred Silver
              President and Chief Executive Officer



              /s/Michael G. Pagano
              ________________________
              Michael G. Pagano
              Vice President Finance and
              Chief Financial Officer




              Date:     May 4, 2000