----

| Part I - Financial Information:                 | Page No. |
|------------------------------------------------------|----------|
|                                                 |     |   |   |
|                                                 | Item 1 - | Financial Statements |   |
|                                                 |     |   |   |
|                                                 |     | Condensed Consolidated Balance Sheets – September 30, 2010 and December 31, 2009 | 3 |
|                                                 |     |   |   |
|                                                 |     | Condensed Consolidated Statements of Operations – Nine and Three Months Ended September 30, 2010 and 2009 | 4 |
|                                                 |     |   |   |
|                                                 |     | Condensed Consolidated Statements of Cash Flows – Nine Months Ended September 30, 2010 and 2009 | 5 |
|                                                 |     |   |   |
|                                                 |     | Notes to Condensed Consolidated Financial Statements | 6 |
|                                                 |     |   |   |
|                                                 | Item 2 - | Management's Discussion and Analysis of Financial Condition and Results of Operations | 16 |
|                                                 |     |   |   |
|                                                 | Item 3 - | Quantitative and Qualitative Disclosures About Market Risk | 18 |
|                                                 |     |   |   |
|                                                 | Item 4 - | Controls and Procedures | 18 |
|                                                 |     |   |   |
|   Part II – Other Information:  |     |

|   | Item 1 -      | Legal Proceedings | 19     |
|--------|---------------|-------------------|--------|
|   |          |              |   |
|   | Item 1A -     | Risk Factors      | 19     |
|   |          |              |   |
|   | Item 6 -      | Exhibits          | 19     |
|   |          |              |   |
|   | Signatures    |              | 21     |
|   |          |              |   |
|   | Exhibit Index |              | 22     |
|   |          |              |   |
|   | Exhibits      |              |   |
|   |          |              |   |
|   |          | Exhibit 31.1      |   |
|   |          | Exhibit 31.2      |   |
|   |          | Exhibit 32.1      |   |
|   |          | Exhibit 32.2      |   |
|   |          |              |   |

----

|                                                  |   |   September 30, |        |   | December 31, |   |
|-------------------------------------------------------|--------|----------------------|-------------|--------|--------------|--------|
|                                                  |   | 2010                 |        |   | 2009         |   |
| Assets                                                |   |                 |        |   |         |   |
| Current assets:                                       |   |                 |        |   |         |   |
| Cash and cash equivalents                             |   | $                    | 61,082,351  |   |         | $      | 66,440,864 |   |
| Receivables, less allowance for doubtful accounts     |   |                 |        |   |         |   |   |   |
|  of $188,021 in 2010 and $428,074 in 2009        |   |                 | 48,769,956  |   |         |   | 39,620,966 |   |
| Inventories                                           |   |                 | 72,004,452  |   |         |   | 69,974,934 |   |
| Insurance receivable – asbestos                 |   |                 | 18,000,000  |   |         |   | 20,000,000 |   |
| Other current assets                                  |   |                 | 11,275,950  |   |         |   | 13,789,664 |   |
| Total current assets                                  |   |                 | 211,132,709 |   |         |   | 209,826,428 |   |
|                                                  |   |                 |        |   |         |   |   |   |
| Property, plant and equipment, net                    |   |                 | 140,345,298 |   |         |   | 119,940,117 |   |
| Insurance receivable - asbestos                       |   |                 | 87,862,580  |   |         |   | 95,430,060 |   |
| Investments in joint ventures                         |   |                 | 14,400,253  |   |         |   | 14,867,317 |   |
| Deferred tax assets                                   |   |                 | 23,383,960  |   |         |   | 25,953,111 |   |
| Other noncurrent assets                               |   |                 | 5,655,093   |   |         |   | 5,808,024 |   |
|                                                  |   | $                    | 482,779,893 |   |         | $      | 471,825,057 |   |
| Liabilities and Shareholders' Equity                  |   |                 |        |   |         |   |   |   |
| Current liabilities:                                  |   |                 |        |   |         |   |   |   |
| Accounts payable                                      |   | $                    | 18,088,209  |   |         | $      | 15,798,457 |   |
| Accrued payrolls and employee benefits                |   |                 | 11,667,062  |   |         |   | 10,497,091 |   |
| Industrial Revenue Bond debt                          |   |                 | 13,311,000  |   |         |   | 13,311,000 |   |
| Asbestos liability – current portion            |   |                 | 25,000,000  |   |         |   | 30,000,000 |   |
| Other current liabilities                             |   |                 | 21,870,111  |   |         |   | 19,897,991 |   |
| Total current liabilities                             |   |                 | 89,936,382  |   |         |   | 89,504,539 |   |
|                                                  |   |                 |        |   |         |   |   |   |
| Employee benefit obligations                          |   |                 | 48,324,439  |   |         |   | 52,372,460 |   |
| Asbestos liability                                    |   |                 | 138,720,330 |   |         |   | 147,093,191 |   |
| Other noncurrent liabilities                          |   |                 | 2,595,630   |   |         |   | 3,652,411 |   |
| Total liabilities                                     |   |                 | 279,576,781 |   |         |   | 292,622,601 |   |
|                                                  |   |                 |        |   |         |   |   |   |
| Commitments and contingent liabilities (Note 6)       |   |                 |        |   |         |   |   |   |
|                                                  |   |                 |        |   |         |   |   |   |
| Shareholders' equity:                                 |   |                 |        |   |         |   |   |   |
| Common stock - par value $1; authorized               |   |                 |        |   |         |   |   |   |
|  20,000,000 shares; issued and outstanding       |   |                 |        |   |         |   |   |   |
|  10,246,827shares in 2010 and 10,245,927 in 2009 |   |                 | 10,246,827  |   |         |   | 10,245,927 |   |
| Additional paid-in capital                            |   |                 | 119,299,066 |   |         |   | 116,396,355 |   |
| Retained earnings                                     |   |                 | 136,379,626 |   |         |   | 116,804,408 |   |
| Accumulated other comprehensive loss                  |   |                 | (62,722,407 | )      |         |   | (64,244,234 | ) |
| Total shareholders' equity                            |   |                 | 203,203,112 |   |         |   | 179,202,456 |   |
|                                                  |   | $                    | 482,779,893 |   |         | $      | 471,825,057 |   |
|                                                  |   |                 |        |   |         |   |   |   |
|                                                  |   |                 |        |   |         |   |   |   |

----

|   |   |  Nine Months Ended September 30, |  Three Months Ended September 30, |
|--------|--------|---------------------------------------|----------------------------------------|

|                                     |   | 2010   |   |   | 2009        |   |   |   | 2010       |   |   | 2009  |   |
|------------------------------------------|--------|-------------|--------|--------|-------------|--------|--------|--------|------------|--------|--------|------------|--------|
|                                     |   |        |   |   |        |   |   |   |       |   |   |       |   |
| Net sales                                | $      | 244,720,952 |   | $      | 232,694,981 |   |   | $      | 79,537,134 |   | $      | 71,961,129 |   |
|                                     |   |        |   |   |        |   |   |   |
| Operating costs and expenses:            |   |        |   |   |        |   |   |   |
|  Costs of products sold             |   |        |   |   |        |   |   |   |
| (excluding depreciation)                 |   | 168,740,339 |   |   | 157,498,251 |   |   |   | 56,501,918 |   |   | 47,504,103 |   |
|  Selling and administrative         |   | 32,354,403  |   |   | 30,693,639  |   |   |   | 10,335,512 |   |   | 9,875,768  |   |
|  Depreciation                       |   | 6,596,206   |   |   | 5,493,962   |   |   |   | 2,003,471  |   |   | 1,868,158  |   |
|  Gain on disposition of assets      |   | (95,508     | )      |   | -           |   |   |   | (389       | )      |   | -          |   |
|   Total operating expenses     |   | 207,595,440 |   |   | 193,685,852 |   |   |   | 68,840,512 |   |   | 59,248,029 |   |
|                                     |   |        |   |   |        |   |   |   |
| Income from operations                   |   | 37,125,512  |   |   | 39,009,129  |   |   |   | 10,696,622 |   |   | 12,713,100 |   |
|                                     |   |        |   |   |        |   |   |   |
| Other income (expense):                  |   |        |   |   |        |   |   |   |
| Investment-related income                |   | 1,158,786   |   |   | 1,009,636   |   |   |   | 1,113,274  |   |   | 862,821    |   |
| Interest expense                         |   | (235,771    | )      |   | (197,373    | )      |   |   | (81,045    | )      |   | (50,520    | )      |
| Other – net                        |   | (49,977     | )      |   | (1,747,743  | )      |   |   | (82,164    | )      |   | 565,478    |   |
|                                     |   | 873,038     |   |   | (935,480    | )      |   |   | 950,065    |   |   | 1,377,779  |   |
|                                     |   |        |   |   |        |   |   |   |
| Income before income taxes               |   | 37,998,550  |   |   | 38,073,649  |   |   |   | 11,646,687 |   |   | 14,090,879 |   |
| Income tax provision                     |   | (12,594,000 | )      |   | (14,247,000 | )      |   |   | (3,946,000 | )      |   | (5,376,000 | )      |
| Equity earnings in Chinese joint venture |   | (296,046    | )      |   | -           |   |   |   | (177,026   | )      |   | -          |   |
| Net income                               | $      | 25,108,504  |   | $      | 23,826,649  |   |   | $      | 7,523,661  |   | $      | 8,714,879  |   |
|                                     |   |        |   |   |        |   |   |   |
|                                     |   |        |   |   |        |   |   |   |
| Net income per common share:             |   |        |   |   |        |   |   |   |
|   Basic                        | $      | 2.45        |   | $      | 2.34        |   |   | $      | 0.73       |   | $      | 0.85       |   |
|   Diluted                      | $      | 2.44        |   | $      | 2.34        |   |   | $      | 0.73       |   | $      | 0.85       |   |
|                                     |   |        |   |   |        |   |   |   |
| Cash dividends declared per share        | $      | 0.54        |   | $      | 0.54        |   |   | $      | 0.18       |   | $      | 0.18       |   |
|                                     |   |        |   |   |        |   |   |   |
|                                     |   |        |   |   |        |   |   |   |
| Weighted average number of               |   |        |   |   |        |   |   |   |
|  common shares outstanding:         |   |        |   |   |        |   |   |   |
|   Basic                        |   | 10,246,621  |   |   | 10,189,008  |   |   |   | 10,246,827 |   |   | 10,204,997 |   |
|   Diluted                      |   | 10,281,510  |   |   | 10,193,350  |   |   |   | 10,290,669 |   |   | 10,205,633 |   |
|                                     |   |        |   |   |        |   |   |   |       |   |   |       |   |

----

|                                                                    |   | Nine Months Ended September 30, |
|-------------------------------------------------------------------------|--------|---------------------------------|
|                                                                    |   |                            | 2010  |   |   | 2009  |   |
|                                                                    |   |                            |   |   |   |   |   |
| Net cash flows provided by operating activities                         |   | $                               | 27,004,515 |   | $ | 44,248,761 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Cash flows from investing activities:                                   |   |                            |   |   |   |   |   |
|                                                                    |   |                            |   |   |   |   |   |
| Purchases of property, plant and equipment                              |   |                            | (27,676,767 | ) |   | (28,348,659 | ) |
| Investment in Chinese joint venture                                     |   |                            | - |   |   | (8,820,000 | ) |
| Collateral for outstanding foreign currency exchange contracts (Note 8) |   |                            | - |   |   | (4,326,000 | ) |
| Return of collateral for outstanding foreign currency exchange          |   |                            |   |   |   |   |   |
|   contracts (Note 8)                                          |   |                            | 764,950 |   |   | 2,163,000 |   |
| Purchases of long-term marketable securities                            |   |                            | (435,482 | ) |   | (780,339 | ) |
| Sales of long-term marketable securities                                |   |                            | 408,511 |   |   | 689,104 |   |
| Proceeds from U.K. governmental grant                                   |   |                            | 226,461 |   |   | - |   |
| Other                                                                   |   |                            | 96,756 |   |   | 1,850 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Net cash flows used in investing activities                             |   |                            | (26,615,571 | ) |   | (39,421,044 | ) |
|                                                                    |   |                            |   |   |   |   |   |
| Cash flows from financing activities:                                   |   |                            |   |   |   |   |   |
|                                                                    |   |                            |   |   |   |   |   |
| Dividends paid                                                          |   |                            | (5,533,124 | ) |   | (5,499,898 | ) |
| Proceeds from the issuance of common stock                              |   |                            | 9,731 |   |   | 568,198 |   |
| Excess tax benefits from the exercise of stock options                  |   |                            | 4,013 |   |   | 163,059 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Net cash flows used in financing activities                             |   |                            | (5,519,380 | ) |   | (4,768,641 | ) |
|                                                                    |   |                            |   |   |   |   |   |
| Effect of exchange rate changes on cash and cash equivalents            |   |                            | (228,077 | ) |   | 1,324,176 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Net (decrease) increase in cash and cash equivalents                    |   |                            | (5,358,513 | ) |   | 1,383,252 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Cash and cash equivalents at beginning of period                        |   |                            | 66,440,864 |   |   | 81,606,793 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Cash and cash equivalents at end of period                              |   | $                               | 61,082,351 |   | $ | 82,990,045 |   |
|                                                                    |   |                            |   |   |   |   |   |
|                                                                    |   |                            |   |   |   |   |   |
| Supplemental information:                                               |   |                            |   |   |   |   |   |
|  Income tax payments                                               |   | $                               | 8,092,569 |   | $ | 9,164,398 |   |
|  Interest payments                                                 |   | $                               | 235,907 |   | $ | 208,549 |   |
|                                                                    |   |                            |   |   |   |   |   |
| Non-cash investing activities:                                          |   |                            |   |   |   |   |   |
|  Purchases of property, plant and equipment                        |   |                            |   |   |   |   |   |
|   included in accounts payable                                |   | $                               | 1,927,910 |   | $ | 2,397,033 |   |
|                                                                    |   |                            |   |   |   |   |   |
|                                                                    |   |                            |   |   |   |   |   |

----

| 1. | Unaudited Condensed Consolidated Financial Statements |
|----|-------------------------------------------------------|

| 2. | Inventories |
|----|-------------|

|            |   | (in thousands) |   |
|-----------------|--------|----------------|--------|
|            |   | September 30,  |   |   | December 31, |   |
|            |   | 2010           |   |   |     2009 |   |
|            |   |           |   |   |   |   |
| Raw materials   |   | $              | 17,917 |   |   | $ | 18,274 |   |
| Work-in-process |   |           | 39,172 |   |   |   | 33,178 |   |
| Finished goods  |   |           | 4,116  |   |   |   | 8,075 |   |
| Supplies        |   |           | 10,799 |   |   |   | 10,448 |   |
|            |   | $              | 72,004 |   |   | $ | 69,975 |   |

----

|   | Property, plant and equipment were comprised of the following: |
|--------|----------------------------------------------------------------|

|                       |   | (in thousands) |     |
|----------------------------|--------|----------------|----------|
|                       |   | September 30,  |     |   | December 31, |   |
|                       |   |   2010    |     |   | 2009 |   |
|                       |   |           |     |   |   |   |
| Land and land improvements |   | $              | 4,766    |   |   | $ | 4,766 |   |
| Buildings                  |   |           | 40,149   |   |   |   | 31,387 |   |
| Machinery and equipment    |   |           | 207,889  |   |   |   | 155,528 |   |
| Construction-in-progress   |   |           | 10,189   |   |   |   | 45,188 |   |
| Other                      |   |           | 7,426    |   |   |   | 7,417 |   |
|                       |   |           | 270,419  |   |   |   | 244,286 |   |
| Accumulated depreciation   |   |           | (130,074 | ) |   |   | (124,346 | ) |
|                       |   | $              | 140,345  |   |   | $ | 119,940 |   |

| 4. | Other Current Liabilities |
|----|---------------------------|

|   Other current liabilities were comprised of the following: |
|------------------------------------------------------------------------|

|                                |   | (in thousands) |   |
|-------------------------------------|--------|----------------|--------|
|                                |   | September 30,  |   |   | December 31, |   |
|                                |   | 2010           |   |   |     2009 |   |
|                                |   |           |   |   |   |   |
| Customer-related liabilities        |   | $              | 9,113  |   |   | $ | 10,111 |   |
| Foreign currency exchange contracts |   |           | 348    |   |   |   | 1,171 |   |
| Accrued sales commissions           |   |           | 2,308  |   |   |   | 1,852 |   |
| Accrued income taxes payable        |   |           | 1,414  |   |   |   | - |   |
| Dividend payable                    |   |           | 1,844  |   |   |   | 1,844 |   |
| Other                               |   |           | 6,843  |   |   |   | 4,920 |   |
|                                |   | $              | 21,870 |   |   | $ | 19,898 |   |

|                                            |   | (in thousands)      |   |
|-------------------------------------------------|--------|---------------------|--------|
|                                            |   | Nine Months         |   |   | Three Months |   |
|                                            |   | Ended September 30, |   |   | Ended September 30, |   |
|                                            |   | 2010                |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|                                            |   |                |   |   |   |   |   |   |   |   |   |   |
| Balance at beginning of the period              |   | $                   | 4,929  |   |   | $ | 4,724 |   |   | $ | 5,289 |   |   | $ | 5,153 |   |
| Satisfaction of warranty claims                 |   |                | (1,330 | ) |   |   | (1,199 | ) |   |   | (668 | ) |   |   | (448 | ) |
| Provision for warranty claims                   |   |                | 1,654  |   |   |   | 1,416 |   |   |   | 456 |   |   |   | 527 |   |
| Other, primarily impact from changes in foreign |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  currency exchange rates                   |   |                | (56    | ) |   |   | 223 |   |   |   | 120 |   |   |   | (68 | ) |
| Balance at end of the period                    |   | $                   | 5,197  |   |   | $ | 5,164 |   |   | $ | 5,197 |   |   | $ | 5,164 |   |

----

|                                              |
|---------------------------------------------------|
|                                              |   |     (in thousands) |   |
|                                              |   | 2010 |   |   | 2009 |   |
|                                              |   |   |   |   |   |   |
| U.S. pension benefits plans                       |   | $ | 5,000 |   |   | $ | 5,000 |   |
| U.K. pension benefits plan                        |   | $ | 1,060 |   |   | $ | 1,058 |   |
| Other postretirement benefits (e.g. net payments) |   | $ | 491 |   |   | $ | 438 |   |
| U.K. defined contribution plan                    |   | $ | 240 |   |   | $ | 200 |   |
|                                              |   |   |   |   |   |   |   |   |

|                               |   | (in thousands)      |   |
|------------------------------------|--------|---------------------|--------|
|                               |   | Nine Months         |   |   | Three Months |   |
|                               |   | Ended September 30, |   |   | Ended September 30, |   |
|                               |   | 2010                |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| U.S. Pension Benefits              |   |                |   |   |   |   |   |   |   |   |   |   |
|                               |   |                |   |   |   |   |   |   |   |   |   |   |
| Service cost                       |   | $                   | 2,151  |   |   | $ | 2,099 |   |   | $ | 717 |   |   | $ | 674 |   |
| Interest cost                      |   |                | 6,394  |   |   |   | 6,302 |   |   |   | 2,132 |   |   |   | 2,186 |   |
| Expected return on plan assets     |   |                | (7,179 | ) |   |   | (7,696 | ) |   |   | (2,393 | ) |   |   | (2,651 | ) |
| Amortization of prior service cost |   |                | 492    |   |   |   | 545 |   |   |   | 164 |   |   |   | 228 |   |
| Amortization of actuarial loss     |   |                | 2,613  |   |   |   | 1,415 |   |   |   | 871 |   |   |   | 552 |   |
| Net benefit cost                   |   | $                   | 4,471  |   |   | $ | 2,665 |   |   | $ | 1,491 |   |   | $ | 989 |   |

| U.K. Pension Benefits          |   |   |   |   |   |   |   |   |   |   |   |   |
|--------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest cost                  |   | $      | 1,852  |   |   | $      | 1,717  |   |   | $      | 623    |   |   | $ | 649 |   |
| Expected return on plan assets |   |   | (1,407 | )      |   |   | (1,094 | )      |   |   | (473   | )      |   |   | (414 | ) |
| Amortization of actuarial loss |   |   | 347    |   |   |   | 342    |   |   |   | 117    |   |   |   | 130 |   |
| Net benefit cost               |   | $      | 792    |   |   | $      | 965    |   |   | $      | 267    |   |   | $ | 365 |   |

| Other Postretirement Benefits      |   |   |   |   |   |   |   |   |   |   |   |   |
|------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Service cost                       |   | $      | 361    |   |   | $      | 317    |   |   | $      | 135    |   |   | $ | 98 |   |
| Interest cost                      |   |   | 693    |   |   |   | 609    |   |   |   | 242    |   |   |   | 189 |   |
| Amortization of prior service cost |   |   | 65     |   |   |   | 65     |   |   |   | 22     |   |   |   | 22 |   |
| Amortization of actuarial loss     |   |   | 105    |   |   |   | 7      |   |   |   | 105    |   |   |   | 4 |   |
| Net benefit cost                   |   | $      | 1,224  |   |   | $      | 998    |   |   | $      | 504    |   |   | $ | 313 |   |

----

|                                             (in thousands) |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                              |   |   |   |   |   |   |
|                                                                                                                                                                                                                                                                              |   | Nine Months |   |   | Three Months |   |
|                                                                                                                                                                                                                                                                              |   | Ended September 30, |   |   | Ended September 30, |   |
|                                                                                                                                                                                                                                                                              |   | 2010 |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |

| Net income                                        |   | $      | 25,109 |   |   | $      | 23,827 |   |   | $      | 7,524  |   |   | $      | 8,715  |   |
|---------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Foreign currency translation adjustments          |   |   | (1,028 | )      |   |   | 4,045  |   |   |   | 2,528  |   |   |   | (1,299 | )      |
| Unrecognized components of                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  employee benefit plans                      |   |   | 2,127  |   |   |   | 1,522  |   |   |   | 822    |   |   |   | 583    |   |
| Unrealized holding gains on marketable securities |   |   | 148    |   |   |   | 425    |   |   |   | 191    |   |   |   | 216    |   |
| Change in the fair value of derivatives           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  (cash flow hedges)                          |   |   | 275    |   |   |   | 367    |   |   |   | (450   | )      |   |   | (335   | )      |
| Comprehensive income                              |   | $      | 26,631 |   |   | $      | 30,186 |   |   | $      | 10,615 |   |   | $      | 7,880  |   |

----

----

| (in thousands)                                 |   |
|------------------------------------------------|--------|
|                                           |   | Quoted Prices in Active Markets for Identical Inputs(Level 1) |   |   | Significant Other Observable Inputs(Level 2) |   |   | Significant Unobservable Inputs(Level 3) |   |   |    Total |   |
| Investments                                    |   |   |   |   |   |   |   |   |   |   |   |   |
| Other noncurrent assets                        |   | $ | 2,871 |   |   | $ | - |   |   | $ | - |   |   | $ | 2,871 |   |
| Foreign currency exchange sales contracts |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other current assets                           |   |   | - |   |   |   | 938 |   |   |   | - |   |   |   | 938 |   |
| Other noncurrent assets                        |   |   | - |   |   |   | 492 |   |   |   | - |   |   |   | 492 |   |
| Other current liabilities                      |   |   | - |   |   |   | 348 |   |   |   | - |   |   |   | 348 |   |
| Other noncurrent liabilities                   |   |   | - |   |   |   | 467 |   |   |   | - |   |   |   | 467 |   |

----

|                                                 |   | (in thousands)      |    |
|------------------------------------------------------|--------|---------------------|---------|
|                                                 |   | Nine Months         |    |   | Three Months |   |
|                                                 |   | Ended September 30, |    |   | Ended September 30, |   |
|                                                 |   | 2010                |    |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|                                                 |   |                |    |   |   |   |   |   |   |   |   |   |
| Net Sales:                                           |   |                |    |   |   |   |   |   |   |   |   |   |
|  Forged and Cast Rolls                          |   | $                   | 181,273 |   |   | $ | 147,394 |   |   | $ | 59,562 |   |   | $ | 44,766 |   |
|  Air and Liquid Processing                      |   |                | 63,448  |   |   |   | 85,301 |   |   |   | 19,975 |   |   |   | 27,195 |   |
|   Total Reportable Segments                |   | $                   | 244,721 |   |   | $ | 232,695 |   |   | $ | 79,537 |   |   | $ | 71,961 |   |
|                                                 |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income before Income Taxes:                          |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Forged and Cast Rolls                          |   | $                   | 40,570  |   |   | $ | 35,938 |   |   | $ | 11,765 |   |   | $ | 10,937 |   |
|  Air and Liquid Processing                      |   |                | 5,333   |   |   |   | 10,586 |   |   |   | 1,366 |   |   |   | 4,219 |   |
|   Total Reportable Segments                |   |                | 45,903  |   |   |   | 46,524 |   |   |   | 13,131 |   |   |   | 15,156 |   |
|   Other expense, including corporate costs |   |                | (7,904  | ) |   |   | (8,450 | ) |   |   | (1,484 | ) |   |   | (1,065 | ) |
|                                                 |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   Total                                    |   | $                   | 37,999  |   |   | $ | 38,074 |   |   | $ | 11,647 |   |   | $ | 14,091 |   |
|                                                 |   |                |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

| Approximate open claims at end of period            | 8,262(1)                                            |
|-----------------------------------------------------|-----------------------------------------------------|
| Gross settlement and defense costs (in 000’s) | $ 13,044                                            |
| Approximate claims settled or dismissed             |         959 |

| (1)   | Included as “open claims” are approximately 1,801 claims classified in various jurisdictions as “inactive” or transferred to a state or federal judicial panel on multi-district litigation, commonly referred to as the MDL. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| §   | HR&A’s interpretation of a widely accepted forecast of the population likely to have been exposed to asbestos; |
|--------------------|--------------------------------------------------------------------------------------------------------------------------|

| §   | epidemiological studies estimating the number of people likely to develop asbestos-related diseases; |
|--------------------|------------------------------------------------------------------------------------------------------|

| §   | HR&A’s analysis of the number of people likely to file an asbestos-related injury claim against the subsidiaries and the Corporation based on such epidemiological data and relevant claims history from January 1, 2006 to September 30, 2008; |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | an analysis of claims resolution history from January 1, 2006 to September 30, 2008 to determine the average settlement value of claims, by type of injury claimed and jurisdiction of filing; and |
|--------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| §   | an adjustment for inflation in the future average settlement value of claims, at an annual inflation rate based on the Congressional Budget Office’s ten year forecast of inflation. |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| 13.  Environmental Matters |
|--------------------------------------|

----

| ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF |
|--------------------------------------------------|

| FINANCIAL CONDITION AND RESULTS OF OPERATIONS |
|-----------------------------------------------|

----

----

| ITEM 3 – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK |
|---------------------------------------------------------------------------|

| ITEM 4 – CONTROLS AND PROCEDURES |
|----------------------------------------|

----

| PART II - OTHER INFORMATION |
|-----------------------------|

|   | (a) | Articles of Incorporation |
|--------|-----|---------------------------|

|   | (b) | By-laws |
|--------|-----|---------|

|   | (a) | 1988 Supplemental Executive Retirement Plan |
|--------|-----|---------------------------------------------|

|   | Incorporated by reference to the Annual Report on Form 10-K for the year ended December 31, 2008. |
|--------|---------------------------------------------------------------------------------------------------|

|   | (b) | Severance Agreements between Ampco-Pittsburgh Corporation and certain officers and employees of Ampco-Pittsburgh Corporation |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | Incorporated by reference to the Annual Report on Form 10-K for the year ended December 31, 2008. |
|--------|---------------------------------------------------------------------------------------------------|

|   | (c) | 2008 Omnibus Incentive Plan |
|--------|-----|-----------------------------|

|   | Incorporated by reference to the Proxy Statement dated March 6, 2008. |
|--------|-----------------------------------------------------------------------|

|   | (d) | Retirement and Consulting Agreement between Ampco-Pittsburgh Corporation and Ernest G. Siddons dated April 30, 2009. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------|

|   | Incorporated by reference to the Quarterly Report on Form 10-Q for the quarter ended March 31, 2009. |
|--------|------------------------------------------------------------------------------------------------------|

----

|  (31.1) | Certification of the principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|--------------|------------------------------------------------------------------------------------------------------------|
|         |                                                                                                       |
| (31.2)       | Certification of the principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |

| (32.1) | Certification of principal executive officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|--------|--------------------------------------------------------------------------------------------------------|

| (32.2) | Certification of principal financial officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|--------|--------------------------------------------------------------------------------------------------------|

----

|                              |                                                                                                                                                                                                                                              |
|-----------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                              | AMPCO-PITTSBURGH CORPORATION                                                                                                                                                                                                                      |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
| DATE:  November 5, 2010 | BY:  s/Robert A. Paul                                    |
|                              | Robert A. Paul                                                                                                                                                                                                                                    |
|                              | Chairman and Chief Executive Officer                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
| DATE:  November 5, 2010 | BY:  s/Marliss D. Johnson                                                                        |
|                              | Marliss D. Johnson                                                                                                                                                                                                                                |
|                              | Vice President, Controller and Treasurer                                                                                                                                                                                                          |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |
|                              |                                                                                                                                                                                                                                              |

----

|    |   |                                                                                                   |
|---------|--------|--------------------------------------------------------------------------------------------------------|
| Exhibit | (31.1) | Certification of principal executive officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|    |   |                                                                                                   |
|    | (31.2) | Certification of principal financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|    |   |                                                                                                   |
|    | (32.1) | Certification of principal executive officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|    |   |                                                                                                   |
|    | (32.2) | Certification of principal financial officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|    |   |                                                                                                   |