----

| Part I - Financial Information:                 | Page No. |
|------------------------------------------------------|----------|
|                                                 |     |   |   |
|                                                 | Item 1 - | Financial Statements |   |
|                                                 |     |   |   |
|                                                 |     | Condensed Consolidated Balance Sheets – June 30, 2010 and December 31, 2009 | 3 |
|                                                 |     |   |   |
|                                                 |     | Condensed Consolidated Statements of Operations – Six and Three Months Ended June 30, 2010 and 2009 | 4 |
|                                                 |     |   |   |
|                                                 |     | Condensed Consolidated Statements of Cash Flows – Six Months Ended June 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      |   |
|   |          |              |   |

----

|                                                   |   | June 30, |        |   | December 31, |   |
|--------------------------------------------------------|--------|----------|-------------|--------|--------------|--------|
|                                                   |   | 2010     |        |   | 2009         |   |
| Assets                                                 |   |     |        |   |         |   |
| Current assets:                                        |   |     |        |   |         |   |
| Cash and cash equivalents                              |   | $        | 57,849,458  |   |         | $      | 66,440,864 |   |
| Receivables, less allowance for doubtful accounts      |   |     |        |   |         |   |   |   |
|  of $189,021 in 2010 and $428,074 in 2009         |   |     | 51,486,665  |   |         |   | 39,620,966 |   |
| Inventories                                            |   |     | 69,707,140  |   |         |   | 69,974,934 |   |
| Insurance receivable – asbestos                  |   |     | 20,000,000  |   |         |   | 20,000,000 |   |
| Other current assets                                   |   |     | 14,852,870  |   |         |   | 13,789,664 |   |
| Total current assets                                   |   |     | 213,896,133 |   |         |   | 209,826,428 |   |
|                                                   |   |     |        |   |         |   |   |   |
| Property, plant and equipment, net                     |   |     | 134,191,180 |   |         |   | 119,940,117 |   |
| Insurance receivable - asbestos                        |   |     | 88,992,377  |   |         |   | 95,430,060 |   |
| Investments in joint ventures                          |   |     | 14,584,827  |   |         |   | 14,867,317 |   |
| Deferred tax assets                                    |   |     | 24,970,643  |   |         |   | 25,953,111 |   |
| Other noncurrent assets                                |   |     | 5,468,560   |   |         |   | 5,808,024 |   |
|                                                   |   | $        | 482,103,720 |   |         | $      | 471,825,057 |   |
| Liabilities and Shareholders' Equity                   |   |     |        |   |         |   |   |   |
| Current liabilities:                                   |   |     |        |   |         |   |   |   |
| Accounts payable                                       |   | $        | 18,637,760  |   |         | $      | 15,798,457 |   |
| Accrued payrolls and employee benefits                 |   |     | 11,291,036  |   |         |   | 10,497,091 |   |
| Industrial Revenue Bond debt                           |   |     | 13,311,000  |   |         |   | 13,311,000 |   |
| Asbestos liability – current portion             |   |     | 30,000,000  |   |         |   | 30,000,000 |   |
| Other current liabilities                              |   |     | 22,418,842  |   |         |   | 19,897,991 |   |
| Total current liabilities                              |   |     | 95,658,638  |   |         |   | 89,504,539 |   |
| Employee benefit obligations                           |   |     | 52,358,077  |   |         |   | 52,372,460 |   |
| Asbestos liability                                     |   |     | 138,001,259 |   |         |   | 147,093,191 |   |
| Other noncurrent liabilities                           |   |     | 2,226,690   |   |         |   | 3,652,411 |   |
| Total liabilities                                      |   |     | 288,244,664 |   |         |   | 292,622,601 |   |
|                                                   |   |     |        |   |         |   |   |   |
| Commitments and contingent liabilities (Note 6)        |   |     |        |   |         |   |   |   |
|                                                   |   |     |        |   |         |   |   |   |
| Shareholders' equity:                                  |   |     |        |   |         |   |   |   |
| Common stock - par value $1; authorized                |   |     |        |   |         |   |   |   |
|  20,000,000 shares; issued and outstanding        |   |     |        |   |         |   |   |   |
|  10,246,827 shares in 2010 and 10,245,927 in 2009 |   |     | 10,246,827  |   |         |   | 10,245,927 |   |
| Additional paid-in capital                             |   |     | 118,725,412 |   |         |   | 116,396,355 |   |
| Retained earnings                                      |   |     | 130,700,393 |   |         |   | 116,804,408 |   |
| Accumulated other comprehensive loss                   |   |     | (65,813,576 | )      |         |   | (64,244,234 | ) |
| Total shareholders' equity                             |   |     | 193,859,056 |   |         |   | 179,202,456 |   |
|                                                   |   | $        | 482,103,720 |   |         | $      | 471,825,057 |   |
|                                                   |   |     |        |   |         |   |   |   |
|                                                   |   |     |        |   |         |   |   |   |

----

|                                             |   | Six Months Ended June 30, |        |   | Three Months Ended June 30, |   |
|--------------------------------------------------|--------|---------------------------|-------------|--------|-----------------------------|--------|
|                                             |   | 2010                      |        |   | 2009                        |   |   | 2010 |   | 2009 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |
| Net sales                                        |   | $                         | 165,183,818 |   |                        | $      | 160,733,852 |   |   | $ | 82,857,950 |   | $ | 74,978,864 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Operating costs and expenses:                    |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|   Costs of products sold               |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| (excluding depreciation)                         |   |                      | 111,625,015 |   |                        |   | 109,994,148 |   |   |   | 54,784,095 |   |   | 50,218,086 |   |
|   Selling and administrative           |   |                      | 22,632,297  |   |                        |   | 20,817,871 |   |   |   | 11,038,194 |   |   | 10,196,238 |   |
|   Depreciation                         |   |                      | 4,592,735   |   |                        |   | 3,625,804 |   |   |   | 2,268,007 |   |   | 1,809,715 |   |
|   (Gain) loss on disposition of assets |   |                      | (95,119     | )      |                        |   | - |   |   |   |  2,771 |   |   | - |   |
|    Total operating expenses       |   |                      | 138,754,928 |   |                        |   | 134,437,823 |   |   |   | 68,093,067 |   |   | 62,224,039 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Income from operations                           |   |                      | 26,428,890  |   |                        |   | 26,296,029 |   |   |   | 14,764,883 |   |   | 12,754,825 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Other income (expense):                          |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Investment-related income                        |   |                      | 45,512      |   |                        |   | 146,815 |   |   |   | 24,723 |   |   | 64,208 |   |
| Interest expense                                 |   |                      | (154,726    | )      |                        |   | (146,853 | ) |   |   | (81,443 | ) |   | (77,489 | ) |
| Other - net                                      |   |                      | 32,187      |   |                        |   | (2,313,221 | ) |   |   | (676,990 | ) |   | (535,446 | ) |
|                                             |   |                      | (77,027     | )      |                        |   | (2,313,259 | ) |   |   | (733,710 | ) |   | (548,727 | ) |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Income before income taxes and equity            |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|  losses in Chinese joint venture            |   |                      | 26,351,863  |   |                        |   | 23,982,770 |   |   |   | 14,031,173 |   |   | 12,206,098 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Income tax provision                             |   |                      | (8,648,000  | )      |                        |   | (8,871,000 | ) |   |   | (4,582,000 | ) |   | (4,413,000 | ) |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Equity losses in Chinese joint venture           |   |                      | (119,020    | )      |                        |   | - |   |   |   | (75,429 | ) |   | - |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Net income                                       |   | $                         | 17,584,843  |   |                        | $      | 15,111,770 |   |   | $ | 9,373,744 |   | $ | 7,793,098 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Earnings per common share:                       |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|   Basic                                |   | $                         | 1.72        |   |                        | $      | 1.48 |   |   | $ | 0.91 |   | $ | 0.77 |   |
|   Diluted                              |   | $                         | 1.71        |   |                        | $      | 1.48 |   |   | $ | 0.91 |   | $ | 0.77 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Cash dividends declared                          |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|  per share                                  |   | $                         | 0.36        |   |                        | $      | 0.36 |   |   | $ | 0.18 |   | $ | 0.18 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
| Weighted-average number of                       |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|  common shares outstanding:                 |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |
|   Basic shares                         |   |                      | 10,246,517  |   |                        |   | 10,180,881 |   |   |   | 10,246,827 |   |   | 10,184,228 |   |
|   Diluted shares                       |   |                      | 10,275,114  |   |                        |   | 10,181,779 |   |   |   | 10,289,545 |   |   | 10,178,381 |   |
|                                             |   |                      |        |   |                        |   |   |   |   |   |   |   |   |   |   |

----

|                                                                                           |   |     Six Months Ended June 30, |        |
|------------------------------------------------------------------------------------------------|--------|----------------------------------------------|-------------|
|                                                                                           |   | 2010                                         |        |   | 2009 |   |
|                                                                                           |   |                                         |        |   |   |   |
| Net cash flows provided by operating activities                                                |   | $                                            | 15,138,275  |   |   | $ | 21,709,482 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Cash flows from investing activities:                                                          |   |                                         |        |   |   |   |   |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Purchases of property, plant and equipment                                                     |   |                                         | (20,118,017 | ) |   |   | (13,474,176 | ) |
| Investment in Chinese joint venture                                                            |   |                                         | -           |   |   |   | (4,410,000 | ) |
| Collateral for outstanding foreign currency exchange contracts (Note 8)                        |   |                                         | 764,950     |   |   |   | (4,326,000 | ) |
| Purchases of long-term marketable securities                                                   |   |                                         | (275,250    | ) |   |   | (574,268 | ) |
| Proceeds from sale of long-term marketable securities                                          |   |                                         | 262,951     |   |   |   | 507,731 |   |
| Other                                                                                          |   |                                         | 103,534     |   |   |   | 1,774 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Net cash flows used in investing activities                                                    |   |                                         | (19,261,832 | ) |   |   | (22,274,939 | ) |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Cash flows from financing activities:                                                          |   |                                         |        |   |   |   |   |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Dividends paid                                                                                 |   |                                         | (3,688,696  | ) |   |   | (3,663,899 | ) |
| Proceeds from the issuance of common stock                                                     |   |                                         | 9,731       |   |   |   | 300,825 |   |
| Excess tax benefits from the exercise of stock options                                         |   |                                         | 4,013       |   |   |   | 89,453 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Net cash flows used in financing activities                                                    |   |                                         | (3,674,952  | ) |   |   | (3,273,621 | ) |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Effect of exchange rate changes on cash and cash equivalents                                   |   |                                         | (792,897    | ) |   |   | 1,313,247 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Net decrease in cash and cash equivalents                                                      |   |                                         | (8,591,406  | ) |   |   | (2,525,831 | ) |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Cash and cash equivalents at beginning of period                                               |   |                                         | 66,440,864  |   |   |   | 81,606,793 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Cash and cash equivalents at end of period                                                     |   | $                                            | 57,849,458  |   |   | $ | 79,080,962 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Supplemental information:                                                                      |   |                                         |        |   |   |   |   |   |
|   Income tax payments                                                                |   | $                                            | 2,748,000   |   |   | $ | 7,277,973 |   |
|   Interest payments                                                                  |   | $                                            | 154,533     |   |   | $ | 154,991 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |
| Non-cash investing activities:                                                                 |   |                                         |        |   |   |   |   |   |
|   Purchases of property, plant and equipment  included in accounts payable |   | $                                            | 2,535,660   |   |   | $ | 1,006,147 |   |
|                                                                                           |   |                                         |        |   |   |   |   |   |

----

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

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

|            | (in thousands) |   |
|-----------------|----------------|--------|
|            | June 30,       |   |   | December 31, |   |
|            | 2010           |   |   | 2009 |   |
|            |           |   |   |   |   |
| Raw materials   | $              | 18,554 |   |   | $ | 18,274 |   |
| Work-in-process |           | 38,009 |   |   |   | 33,178 |   |
| Finished goods  |           | 3,259  |   |   |   | 8,075 |   |
| Supplies        |           | 9,885  |   |   |   | 10,448 |   |
|            | $              | 69,707 |   |   | $ | 69,975 |   |

----

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

|                       |   | (in thousands) |     |
|----------------------------|--------|----------------|----------|
|                       |   | June 30,       |     |   | December 31, |   |
|                       |   | 2010           |     |   | 2009 |   |
|                       |   |           |     |   |   |   |
| Land and land improvements |   | $              | 4,764    |   |   | $ | 4,766 |   |
| Buildings                  |   |           | 36,748   |   |   |   | 31,387 |   |
| Machinery and equipment    |   |           | 187,658  |   |   |   | 155,528 |   |
| Construction-in-progress   |   |           | 25,482   |   |   |   | 45,188 |   |
| Other                      |   |           | 7,381    |   |   |   | 7,417 |   |
|                       |   |           | 262,033  |   |   |   | 244,286 |   |
| Accumulated depreciation   |   |           | (127,842 | ) |   |   | (124,346 | ) |
|                       |   | $              | 134,191  |   |   | $ | 119,940 |   |

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

|                                |   | (in thousands) |   |
|-------------------------------------|--------|----------------|--------|
|                                |   | June 30,       |   |   | December 31, |   |
|                                |   | 2010           |   |   | 2009 |   |
|                                |   |           |   |   |   |   |
| Customer-related liabilities        |   | $              | 8,238  |   |   | $ | 10,111 |   |
| Foreign currency exchange contracts |   |           | 311    |   |   |   | 1,171 |   |
| Accrued sales commissions           |   |           | 2,360  |   |   |   | 1,852 |   |
| Accrued income taxes payable        |   |           | 2,749  |   |   |   | - |   |
| Dividend payable                    |   |           | 1,844  |   |   |   | 1,844 |   |
| Other                               |   |           | 6,917  |   |   |   | 4,920 |   |
|                                |   | $              | 22,419 |   |   | $ | 19,898 |   |

|                                    |   | (in thousands) |   |
|-----------------------------------------|--------|----------------|--------|
|                                    |   | Six Months     |   |   | Three Months |   |
|                                    |   | Ended June 30, |   |   | Ended June 30, |   |
|                                    |   | 2010           |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|                                    |   |           |   |   |   |   |   |   |   |   |   |   |
| Balance at beginning of the period      |   | $              | 4,929  |   |   | $ | 4,724 |   |   | $ | 4,956 |   |   | $ | 4,900 |   |
| Satisfaction of warranty claims         |   |           | (662   | ) |   |   | (751 | ) |   |   | (182 | ) |   |   | (482 | ) |
| Provision for warranty claims           |   |           | 1,198  |   |   |   | 889 |   |   |   | 553 |   |   |   | 437 |   |
| Other, primarily impact from changes in |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  foreign currency exchange rates   |   |           | (176   | ) |   |   | 291 |   |   |   | (38 | ) |   |   | 298 |   |
| Balance at end of the period            |   | $              | 5,289  |   |   | $ | 5,153 |   |   | $ | 5,289 |   |   | $ | 5,153 |   |

----

|                                              |   |     (in thousands) |   |
|---------------------------------------------------|--------|----------------------------------------|--------|
|                                              |   | 2010                                   |   |   | 2009 |   |
|                                              |   |                                   |   |   |   |   |
| U.S. pension benefits plans                       |   | $                                      | -      |   |   | $ | 5,000 |   |
| U.K. pension benefits plan                        |   | $                                      | 703    |   |   | $ | 687 |   |
| Other postretirement benefits (e.g. net payments) |   | $                                      | 346    |   |   | $ | 284 |   |
| U.K. defined contribution plan                    |   | $                                      | 155    |   |   | $ | 130 |   |
|                                              |   |                                   |   |   |   |   |   |   |

|                               |   | (in thousands) |   |
|------------------------------------|--------|----------------|--------|
|                               |   | Six Months     |   |   | Three Months |   |
|                               |   | Ended June 30, |   |   | Ended June 30, |   |
|                               |   | 2010           |   |   | 2009 |   |   | 2010 |   |   | 2009 |   |
| U.S. Pension Benefits              |   |           |   |   |   |   |   |   |   |   |   |   |
|                               |   |           |   |   |   |   |   |   |   |   |   |   |
| Service cost                       |   | $              | 1,434  |   |   | $ | 1,425 |   |   | $ | 650 |   |   | $ | 713 |   |
| Interest cost                      |   |           | 4,262  |   |   |   | 4,116 |   |   |   | 2,103 |   |   |   | 2,058 |   |
| Expected return on plan assets     |   |           | (4,786 | ) |   |   | (5,045 | ) |   |   | (2,532 | ) |   |   | (2,523 | ) |
| Amortization of prior service cost |   |           | 328    |   |   |   | 317 |   |   |   | 164 |   |   |   | 159 |   |
| Amortization of actuarial loss     |   |           | 1,742  |   |   |   | 863 |   |   |   | 961 |   |   |   | 431 |   |
| Net benefit cost                   |   | $              | 2,980  |   |   | $ | 1,676 |   |   | $ | 1,346 |   |   | $ | 838 |   |

| Foreign Pension Benefits       |   |   |   |   |   |   |   |   |   |   |   |   |
|--------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest cost                  |   | $      | 1,229  |   |   | $      | 1,068  |   |   | $      | 602    |   |   | $ | 534 |   |
| Expected return on plan assets |   |   | (934   | )      |   |   | (680   | )      |   |   | (458   | )      |   |   | (340 | ) |
| Amortization of actuarial loss |   |   | 230    |   |   |   | 212    |   |   |   | 113    |   |   |   | 106 |   |
| Net benefit cost               |   | $      | 525    |   |   | $      | 600    |   |   | $      | 257    |   |   | $ | 300 |   |

| Other Postretirement Benefits      |   |   |   |   |   |   |   |   |   |   |   |   |
|------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                               |   |   |   |   |   |   |   |   |   |   |   |   |
| Service cost                       |   | $      | 226    |   |   | $      | 219    |   |   | $      | 113    |   |   | $ | 110 |   |
| Interest cost                      |   |   | 451    |   |   |   | 420    |   |   |   | 225    |   |   |   | 210 |   |
| Amortization of prior service cost |   |   | 43     |   |   |   | 43     |   |   |   | 22     |   |   |   | 21 |   |
| Amortization of actuarial loss     |   |   | -      |   |   |   | 3      |   |   |   | -      |   |   |   | 2 |   |
| Net benefit cost                   |   | $      | 720    |   |   | $      | 685    |   |   | $      | 360    |   |   | $ | 343 |   |

----

|                                            |   | (in thousands) |   |   |
|-------------------------------------------------|--------|----------------|--------|--------|
|                                            |   | Six Months     |   |   | Three Months |   |   |
|                                            |   | Ended June 30, |   |   | Ended June 30, |   |   |
|                                            |   | 2010           |   |   | 2009 |   |   | 2010 |   | 2009 |   |   |
|                                            |   |           |   |   |   |   |   |   |   |   |   |   |
| Net income                                      |   | $              | 17,585 |   |   | $ | 15,112 |   |   | $ | 9,374 |   | $ | 7,793 |   |
| Foreign currency translation adjustments        |   |           | (3,556 | )      |   |   | 5,344 |   |   |   | (694 | ) |   | 5,251 |   |
| Unrecognized components of                      |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  employee benefit plans                    |   |           | 1,305  |   |   |   | 939 |   |   |   | 617 |   |   | 481 |   |
| Unrealized holding (losses) gains on marketable |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  securities                                |   |           | (43    | )      |   |   | 209 |   |   |   | (117 | ) |   | 255 |   |
| Change in the fair value of derivatives         |   |           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  (cash flow hedges)                        |   |           | 725    |   |   |   | 702 |   |   |   | 271 |   |   | (584 | ) |
| Comprehensive income                            |   | $              | 16,016 |   |   | $ | 22,306 |   |   | $ | 9,451 |   | $ | 13,196 |   |

----

----

|                                    (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                                                                                                                                                                                                          |   | $ | 2,566 |   |   | $ | - |   |   | $ | - |   |   | $ | 2,566 |   |
| Foreign currency exchange  (sales and purchase) contracts                                                                                                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other current assets                                                                                                                                                                                                             |   |   | - |   |   |   | 2,175 |   |   |   | - |   |   |   | 2,175 |   |
| Other noncurrent assets                                                                                                                                                                                                          |   |   | - |   |   |   | 614 |   |   |   | - |   |   |   | 614 |   |
| Other current liabilities                                                                                                                                                                                                        |   |   | - |   |   |   | 311 |   |   |   | - |   |   |   | 311 |   |
| Other noncurrent liabilities                                                                                                                                                                                                     |   |   | - |   |   |   | 92 |   |   |   | - |   |   |   | 92 |   |

----

|                                          |   | (in thousands) |    |
|-----------------------------------------------|--------|----------------|---------|
|                                          |   | Six Months     |    |   | Three Months |   |
|                                          |   | Ended June 30, |    |   | Ended June 30, |   |
|                                          |   | 2010           |    |   | 2009 |   |   | 2010 |   |   | 2009 |   |
|                                          |   |           |    |   |   |   |   |   |   |   |   |   |
| Net Sales:                                    |   |           |    |   |   |   |   |   |   |   |   |   |
|  Forged and Cast Rolls                   |   | $              | 121,711 |   |   | $ | 102,628 |   |   | $ | 61,563 |   |   | $ | 45,205 |   |
|  Air and Liquid Processing               |   |           | 43,473  |   |   |   | 58,106 |   |   |   | 21,295 |   |   |   | 29,774 |   |
|   Total Reportable Segments         |   | $              | 165,184 |   |   | $ | 160,734 |   |   | $ | 82,858 |   |   | $ | 74,979 |   |
|                                          |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income before Income Taxes:                   |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Forged and Cast Rolls                   |   | $              | 28,805  |   |   | $ | 25,001 |   |   | $ | 15,340 |   |   | $ | 11,044 |   |
|  Air and Liquid Processing               |   |           | 3,967   |   |   |   | 6,367 |   |   |   | 2,172 |   |   |   | 4,146 |   |
|   Total Reportable Segments         |   |           | 32,772  |   |   |   | 31,368 |   |   |   | 17,512 |   |   |   | 15,190 |   |
|   Other expense, including          |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    corporate costs – net |   |           | (6,420  | ) |   |   | (7,385 | ) |   |   | (3,481 | ) |   |   | (2,984 | ) |
|                                          |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Total                                   |   | $              | 26,352  |   |   | $ | 23,983 |   |   | $ | 14,031 |   |   | $ | 12,206 |   |
|                                          |   |           |    |   |   |   |   |   |   |   |   |   |   |   |   |   |

| Approximate open claims at end of period            | 8,155 (1)                               |
|-----------------------------------------------------|-----------------------------------------|
| Gross settlement and defense costs (in 000’s) | $ 8,710                                 |
| Approximate claims settled or dismissed             |       636 |

----

| §   | 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:  August 6, 2010 | BY:  s/Robert A. Paul                                    |
|                            | Robert A. Paul                                                                                                                                                                                                                               |
|                            | Chairman and Chief Executive Officer                                                                                                                                                                                                         |
|                            |                                                                                                                                                                                                                                         |
|                            |                                                                                                                                                                                                                                         |
|                            |                                                                                                                                                                                                                                         |
|                            |                                                                                                                                                                                                                                         |
|                            |                                                                                                                                                                                                                                         |
| DATE:  August 6, 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 |
|    |   |                                                                                                   |