----

| Part I -      Financial Information:           | Page      No.       |
|-----------------------------------------------------|---------------------|
|                                                |                |   |   |
|                                                | Item 1      – | Financial      Statements |   |
|                                                |                |   |   |
|                                                |                | Condensed      Consolidated Balance Sheets – March 31,      2009 and December 31, 2008 | 3 |
|                                                |                |   |   |
|                                                |                | Condensed      Consolidated Statements of Operations –Three Months Ended March 31, 2009      and 2008 | 4 |
|                                                |                |   |   |
|                                                |                | Condensed      Consolidated Statements of Cash Flows – Three Months Ended March 31, 2009      and 2008 | 5 |
|                                                |                |   |   |
|                                                |                | Notes to      Condensed Consolidated Financial Statements | 6 |
|                                                |                |   |   |
|                                                | Item 2      -       | Management's      Discussion and Analysis of Financial Condition and Results of      Operations | 17 |
|                                                |                |   |   |
|                                                | Item 3      -       | Quantitative      and Qualitative Disclosures About Market Risk | 20 |
|                                                |                |   |   |
|                                                | Item 4      – | Controls and      Procedures | 20 |
|                                                |                |   |   |
|  Part II –      Other Information:  |                |

|   | Item 1      -      | Legal      Proceedings | 21     |
|--------|--------------------|------------------------|--------|
|   |               |                   |   |
|   | Item 1A      -     | Risk      Factors      | 21     |
|   |               |                   |   |
|   | Item 6      -      | Exhibits               | 21     |
|   |               |                   |   |
|   | Signatures         |                   | 23     |
|   |               |                   |   |
|   | Exhibit      Index |                   | 24     |
|   |               |                   |   |
|   | Exhibits           |                   |   |
|   |               |                   |   |
|   |               | Exhibit      10.d      |   |
|   |               | Exhibit      31.1      |   |
|   |               | Exhibit      31.2      |   |
|   |               | Exhibit      32.1      |   |
|   |               | Exhibit      32.2      |   |
|   |               |                   |   |

----

|                                                                                                                   | March      31, |        | December      31, |   |
|------------------------------------------------------------------------------------------------------------------------|----------------|-------------|-------------------|--------|
|                                                                                                                   |  2009     |        |        2008  |   |
| Assets                                                                                                                 |           |        |              |   |
| Current      assets:                                                                                                   |           |        |              |   |
| Cash and cash      equivalents                                                                                         | $              | 78,482,671  |              | $      | 81,606,793 |   |
| Receivables,      less allowance for doubtful accounts of         $420,680 in 2009 and $211,021      in 2008 |           | 51,146,460  |              |   | 53,763,444 |   |
| Inventories                                                                                                            |           | 59,217,297  |              |   | 62,634,464 |   |
| Insurance      receivable – asbestos                                                                             |           | 14,000,000  |              |   | 14,000,000 |   |
| Other current      assets                                                                                              |           | 19,034,612  |              |   | 16,885,616 |   |
| Total current      assets                                                                                              |           | 221,881,040 |              |   | 228,890,317 |   |
|                                                                                                                   |           |        |              |   |   |   |
| Property,      plant and equipment, net                                                                                |           | 91,034,677  |              |   | 86,733,317 |   |
| Insurance      receivable - asbestos                                                                                   |           | 117,550,498 |              |   | 122,175,929 |   |
| Investments      in joint ventures                                                                                     |           | 10,793,961  |              |   | 6,536,412 |   |
| Deferred tax      assets                                                                                               |           | 33,978,461  |              |   | 35,156,434 |   |
| Goodwill                                                                                                               |           | 2,694,240   |              |   | 2,694,240 |   |
| Other      noncurrent assets                                                                                           |           | 7,234,253   |              |   | 6,794,839 |   |
|                                                                                                                   | $              | 485,167,130 |              | $      | 488,981,488 |   |
| Liabilities      and Shareholders' Equity                                                                              |           |        |              |   |   |   |
| Current      liabilities:                                                                                              |           |        |              |   |   |   |
| Accounts      payable                                                                                                  | $              | 16,557,224  |              | $      | 16,906,407 |   |
| Accrued      payrolls and employee benefits                                                                            |           | 9,248,633   |              |   | 10,831,512 |   |
| Industrial      Revenue Bond debt                                                                                      |           | 13,311,000  |              |   | 13,311,000 |   |
| Asbestos      liability – current portion                                                                        |           | 20,000,000  |              |   | 20,000,000 |   |
| Other current      liabilities                                                                                         |           | 28,222,931  |              |   | 27,164,050 |   |
| Total current      liabilities                                                                                         |           | 87,339,788  |              |   | 88,212,969 |   |
| Employee      benefit obligations                                                                                      |           | 60,359,828  |              |   | 65,091,656 |   |
| Asbestos      liability                                                                                                |           | 180,670,324 |              |   | 187,014,436 |   |
| Other      noncurrent liabilities                                                                                      |           | 3,867,302   |              |   | 3,675,138 |   |
| Total      liabilities                                                                                                 |           | 332,237,242 |              |   | 343,994,199 |   |
|                                                                                                                   |           |        |              |   |   |   |
| Commitments      and contingent liabilities                                                                            |           |        |              |   |   |   |
| (Note      6)                                                                                                          |           |        |              |   |   |   |
|                                                                                                                   |           |        |              |   |   |   |
| Shareholders'      equity:                                                                                             |           |        |              |   |   |   |
| Common stock      - par value $1; authorized                                                                           |           |        |              |   |   |   |
|  20,000,000      shares; issued and outstanding                                                                   |           |        |              |   |   |   |
|  10,177,497      shares in 2009 and 2008                                                                          |           | 10,177,497  |              |   | 10,177,497 |   |
| Additional      paid-in capital                                                                                        |           | 114,135,977 |              |   | 113,471,496 |   |
| Retained      earnings                                                                                                 |           | 101,967,195 |              |   | 96,480,472 |   |
| Accumulated      other comprehensive loss                                                                              |           | (73,350,781 | )                 |   | (75,142,176 | ) |
| Total      shareholders' equity                                                                                        |           | 152,929,888 |              |   | 144,987,289 |   |
|                                                                                                                   | $              | 485,167,l30 |              | $      | 488,981,488 |   |
|                                                                                                                   |           |        |              |   |   |   |

----

|                                                  |   | Three Months      Ended March 31, |            |
|-------------------------------------------------------|--------|-----------------------------------|-----------------|
|                                                  |   | 2009                              |            |   | 2008 |   |
|                                                  |   |                              |            |   |   |   |
| Net      sales                                        |   | $                                 | 85,754,988      |   |   | $ | 97,829,787 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Operating      costs and expenses:                    |   |                              |            |   |   |   |   |   |
|   Costs      of products sold               |   |                              |            |   |   |   |   |   |
|    (excluding      depreciation)       |   |                              | 59,776,062      |   |   |   | 69,900,573 |   |
|   Selling      and administrative           |   |                              | 10,621,633      |   |   |   | 10,254,618 |   |
|   Depreciation                              |   |                              | 1,816,089       |   |   |   | 1,858,499 |   |
|   Gain      on disposition of assets        |   |                              |   -   |   |   |   | (4,440 | ) |
|     Total      operating expenses |   |                              | 72,213,784      |   |   |   | 82,009,250 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Income from      operations                           |   |                              | 13,541,204      |   |   |   | 15,820,537 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Other income      (expense):                          |   |                              |            |   |   |   |   |   |
|   Investment-related      income            |   |                              | 82,607          |   |   |   | 229,537 |   |
|   Interest      expense                     |   |                              | (69,364         | ) |   |   | (133,934 | ) |
|   Other      – net                    |   |                              | (1,777,775      | ) |   |   | (508,857 | ) |
|                                                  |   |                              | (1,764,532      | ) |   |   | (413,254 | ) |
|                                                  |   |                              |            |   |   |   |   |   |
| Income before      income taxes                       |   |                              | 11,776,672      |   |   |   | 15,407,283 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Income tax      provision                             |   |                              | 4,458,000       |   |   |   | 5,264,000 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Net      income                                       |   | $                                 |  7,318,672 |   |   | $ | 10,143,283 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Earnings per      common share:                       |   |                              |            |   |   |   |   |   |
|   Basic                                     |   | $                                 | 0.72            |   |   | $ | 1.00 |   |
|   Dilutive                                  |   | $                                 | 0.72            |   |   | $ | 1.00 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Cash      dividends declared per share                |   | $                                 | 0.18            |   |   | $ | 0.18 |   |
|                                                  |   |                              |            |   |   |   |   |   |
| Weighted      average number of common                |   |                              |            |   |   |   |   |   |
|  shares      outstanding:                        |   |                              |            |   |   |   |   |   |
|   Basic      shares                         |   |                              | 10,177,497      |   |   |   | 10,177,497 |   |
|   Dilutive      shares                      |   |                              | 10,178,276      |   |   |   | 10,179,738 |   |
|                                                  |   |                              |            |   |   |   |   |   |

----

|                                                                |   | Three Months      Ended March 31, |             |
|---------------------------------------------------------------------|--------|-----------------------------------|------------------|
|                                                                |   | 2009                              |             |   | 2008 |   |
|                                                                |   |                              |             |   |   |   |
|                                                                |   |                              |             |   |   |   |
| Net cash      flows provided by operating activities           |   | $                                 | 13,720,260       |   |   | $ | 5,069,705 |   |
|                                                                |   |                              |             |   |   |   |   |   |
| Cash flows      from investing activities:                          |   |                              |             |   |   |   |   |   |
| Purchases of      property, plant and equipment                     |   |                              | (6,157,271       | ) |   |   | (6,322,374 | ) |
| Purchases of      short-term marketable                             |   |                              |             |   |   |   |   |   |
|  securities                                                    |   |                              | -                |   |   |   | (58,102,046 | ) |
| Proceeds from      sale of short-term                               |   |                              |             |   |   |   |   |   |
|  marketable      securities                                    |   |                              | -                |   |   |   | 8,000,000 |   |
| Investment in      Chinese joint venture                            |   |                              | (4,410,000       | ) |   |   | - |   |
| Collateral      for outstanding foreign exchange contracts (Note 8) |   |                              | (4,326,000       | ) |   |   | - |   |
| Purchases of      long-term marketable                              |   |                              |             |   |   |   |   |   |
|  securities                                                    |   |                              | (90,630          | ) |   |   | (394,655 | ) |
| Proceeds from      sale of long-term                                |   |                              |             |   |   |   |   |   |
|  marketable      securities                                    |   |                              | 50,446           |   |   |   |  340,623 |   |
|                                                                |   |                              |             |   |   |   |   |   |
| Net cash      flows used in investing  activities         |   |                              | (14,933,455      | ) |   |   | (56,478,452 | ) |
|                                                                |   |                              |             |   |   |   |   |   |
| Cash flows      from financing activities:                          |   |                              |             |   |   |   |   |   |
| Dividends      paid                                                 |   |                              | (1,831,949       | ) |   |   | (1,526,625 | ) |
|                                                                |   |                              |             |   |   |   |   |   |
| Net cash      flows used in financing  activities         |   |                              | (1,831,949       | ) |   |   | (1,526,625 | ) |
|                                                                |   |                              |             |   |   |   |   |   |
| Effect of      exchange rate changes on cash                        |   |                              |             |   |   |   |   |   |
|  and      cash equivalents                                     |   |                              | (78,978          | ) |   |   | 13,155 |   |
|                                                                |   |                              |             |   |   |   |   |   |
| Net decrease      in cash and cash equivalents                      |   |                              | (3,124,122       | ) |   |   | (52,922,217 | ) |
|                                                                |   |                              |             |   |   |   |   |   |
| Cash and cash      equivalents at beginning of  period    |   |                              |  81,606,793 |   |   |   |  71,626,379 |   |
|                                                                |   |                              |             |   |   |   |   |   |
| Cash and cash      equivalents at end of period                     |   | $                                 | 78,482,671       |   |   | $ | 18,704,162 |   |
|                                                                |   |                              |             |   |   |   |   |   |
| Supplemental      information:                                      |   |                              |             |   |   |   |   |   |
| Income tax      payments                                            |   | $                                 | 707,427          |   |   | $ | 723,504 |   |
| Interest      payments                                              |   | $                                 | 72,910           |   |   | $ | 146,937 |   |
|                                                                |   |                              |             |   |   |   |   |   |
| Non-cash      investing activities:                                 |   |                              |             |   |   |   |   |   |
|  Purchases      of property, plant and equipment               |   |                              |             |   |   |   |   |   |
|   included      in accounts payable                       |   | $                                 | 1,929,700        |   |   | $ | - |   |
|  Appreciation      of short-term marketable                    |   |                              |             |   |   |   |   |   |
|   securities                                              |   | $                                 | -                |   |   | $ | 313,649 |   |

----

| 1. | Unaudited Condensed      Consolidated FinancialStatements |
|----|-----------------------------------------------------------|

----

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

|                |   | (in      thousands) |   |
|---------------------|--------|---------------------|--------|
|                |   | March      31,      |   | December      31, |   |
|                |   |   2009         |   |        2008   |   |
|                |   |                |   |   |   |
| Raw      materials  |   | $                   | 11,945 |   | $ | 12,761 |   |
| Work-in-process     |   |                | 23,886 |   |   | 28,385 |   |
| Finished      goods |   |                | 14,521 |   |   | 12,817 |   |
| Supplies            |   |                | 8,865  |   |   | 8,671 |   |
|                |   | $                   | 59,217 |   | $ | 62,634 |   |

----

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

|                            |   |   (in      thousands) |     |
|---------------------------------|--------|----------------------------|----------|
|                            |   | March      31,             |     | December      31, |   |
|                            |   | 2009                       |     |        2008   |   |
|                            |   |                       |     |   |   |
| Land and land      improvements |   | $                          | 4,747    |   | $ | 4,749 |   |
| Buildings                       |   |                       | 31,267   |   |   | 31,227 |   |
| Machinery and      equipment    |   |                       | 145,947  |   |   | 146,146 |   |
| Construction-in-progress        |   |                       | 21,174   |   |   | 14,945 |   |
| Other                           |   |                       | 7,417    |   |   | 7,425 |   |
|                            |   |                       | 210,552  |   |   | 204,492 |   |
| Accumulated      depreciation   |   |                       | (119,517 | ) |   | (117,759 | ) |
|                            |   | $                          | 91,035   |   | $ | 86,733 |   |

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

|                                     |   | (in      thousands) |   |
|------------------------------------------|--------|---------------------|--------|
|                                     |   | March      31,      |   | December      31, |   |
|                                     |   | 2009                |   |        2008   |   |
|                                     |   |                |   |   |   |
| Customer-related      liabilities        |   | $                   | 9,556  |   | $ | 9,512 |   |
| Foreign      currency exchange contracts |   |                | 3,925  |   |   | 6,887 |   |
| Accrued      income taxes                |   |                | 3,704  |   |   | 1,164 |   |
| Accrued sales      commissions           |   |                | 2,909  |   |   | 2,853 |   |
| Other                                    |   |                | 8,129  |   |   | 6,748 |   |
|                                     |   | $                   | 28,223 |   | $ | 27,164 |   |

|                                                                              |   | (in      thousands)               |   |
|-----------------------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                              |   | Three Months      Ended March 31, |   |
|                                                                              |   |        2009             |   |   |        2008   |   |
|                                                                              |   |                              |   |   |   |   |
| Balance at      beginning of the period                                           |   | $                                 | 4,724  |   |   | $ | 6,156 |   |
| Satisfaction      of warranty claims                                              |   |                              | (269   | ) |   |   | (583 | ) |
| Provision for      warranty claims                                                |   |                              | 452    |   |   |   | 975 |   |
| Other,      primarily impact from changes in foreign currency exchange      rates |   |                              | (7     | ) |   |   | (5 | ) |
| Balance at      end of the period                                                 |   | $                                 | 4,900  |   |   | $ | 6,543 |   |

----

|                                                             |
|-------------------------------------------------------------|
|                                                        |   | (in      thousands) |   |
|                                                        |   |        2009   |   |   |        2008   |   |
|                                                        |   |   |   |   |   |   |
| U.S. pension      benefits plans                            |   | $ | 5,000 |   |   | $ | - |   |
| U.K. pension      benefits plan                             |   | $ | 329 |   |   | $ | 468 |   |
| Other      postretirement benefits (e.g. net      payments) |   | $ | 121 |   |   | $ | 44 |   |
| U.K. defined      contribution plan                         |   | $ | 64 |   |   | $ | 133 |   |
|                                                        |   |   |   |   |   |   |   |   |

|                                                        |   | (in      thousands)     |   |
|-------------------------------------------------------------|--------|-------------------------|--------|
|                                                        |   |        2009   |   |   |        2008   |   |
|                                                        |   |                    |   |   |   |   |
| U.S. pension      benefits plans                            |   | $                       | 5,000  |   |   | $ | - |   |
| U.K. pension      benefits plan                             |   | $                       | 329    |   |   | $ | 468 |   |
| Other      postretirement benefits (e.g. net      payments) |   | $                       | 121    |   |   | $ | 44 |   |
| U.K. defined      contribution plan                         |   | $                       | 64     |   |   | $ | 133 |   |
|                                                        |   |                    |   |   |   |   |   |   |

|                                       |   | (in      thousands)               |   |
|--------------------------------------------|--------|-----------------------------------|--------|
|                                       |   | Three Months      Ended March 31, |   |
| U.S. Pension Benefits                      |   |        2009             |   |   |        2008  |   |
|                                       |   |                              |   |   |   |   |
| Service      cost                          |   | $                                 | 712    |   |   | $ | 672 |   |
| Interest      cost                         |   |                              | 2,058  |   |   |   | 1,980 |   |
| Expected      return on plan assets        |   |                              | (2,522 | ) |   |   | (2,803 | ) |
| Amortization      of prior service cost    |   |                              | 158    |   |   |   | 162 |   |
| Amortization      of actuarial loss (gain) |   |                              | 432    |   |   |   | (32 | ) |
| Net expense      (income)                  |   | $                                 | 838    |   |   | $ | (21 | ) |

|                                |   | (in      thousands)               |   |
|-------------------------------------|--------|-----------------------------------|--------|
|                                |   | Three Months      Ended March 31, |   |
| Foreign Pension Benefits            |   |        2009             |   |   |        2008   |   |
|                                |   |                              |   |   |   |   |
| Interest      cost                  |   | $                                 | 534    |   |   | $ | 660 |   |
| Expected      return on plan assets |   |                              | (340   | ) |   |   | (700 | ) |
| Amortization      of actuarial loss |   |                              | 106    |   |   |   | 78 |   |
| Net      expense                    |   | $                                 | 300    |   |   | $ | 38 |   |

|                                    |   | (in      thousands)               |   |
|-----------------------------------------|--------|-----------------------------------|--------|
|                                    |   | Three Months      Ended March 31, |   |
| Other Postretirement    Benefits        |   |        2009             |   |   |        2008   |   |
|                                    |   |                              |   |   |   |   |
| Service      cost                       |   | $                                 | 109    |   |   | $ | 97 |   |
| Interest      cost                      |   |                              | 210    |   |   |   | 197 |   |
| Amortization      of prior service cost |   |                              | 22     |   |   |   | 17 |   |
| Amortization      of actuarial loss     |   |                              | 1      |   |   |   | 4 |   |
| Net      expense                        |   | $                                 | 342    |   |   | $ | 315 |   |

----

|                                                            |   | (in      thousands)               |   |
|-----------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                            |   | Three Months      Ended March 31, |   |
|                                                            |   | 2009                              |   |   | 2008 |   |
|                                                            |   |                              |   |   |   |   |
| Net      income                                                 |   | $                                 | 7,319  |   |   | $ | 10,143 |   |
| Foreign      currency translation adjustments                   |   |                              | 93     |   |   |   | 204 |   |
| Unrecognized      components of employee benefit plans          |   |                              | 458    |   |   |   | 150 |   |
| Unrealized      holding (losses) gains on marketable securities |   |                              | (46    | ) |   |   | 80 |   |
| Change in the      fair value                                   |   |                              |   |   |   |   |   |   |
| Change in the      fair value of cash flow hedge derivatives    |   |                              | 1,286  |   |   |   | (1,041 | ) |
| Comprehensive      income                                       |   | $                                 | 9,110  |   |   | $ | 9,536 |   |

----

----

|                                     |   | (in      thousands) |   |
|------------------------------------------|--------|---------------------|--------|
|                                     |   | Level 1             |   |   | Level 2 |   |   | Level 3 |   |   | Total |   |
| Investments                              |   |                |   |   |   |   |   |   |   |   |   |   |
| Other      noncurrent assets             |   | $                   | 1,833  |   |   | $ | - |   |   | $ | - |   |   | $ | 1,833 |   |
| Foreign      currency exchange contracts |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Other current      assets                |   |                | -      |   |   |   | 4,122 |   |   |   | - |   |   |   | 4,122 |   |
| Other      noncurrent assets             |   |                | -      |   |   |   | 3,083 |   |   |   | - |   |   |   | 3,083 |   |
| Other current      liabilities           |   |                | -      |   |   |   | 3,925 |   |   |   | - |   |   |   | 3,925 |   |
| Other      noncurrent liabilities        |   |                | -      |   |   |   | 1,483 |   |   |   | - |   |   |   | 1,483 |   |

----

|                                                                        |   | (in      thousands)               |   |
|-----------------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                        |   | Three Months      Ended March 31, |   |
|                                                                        |   |        2009             |   |        2008   |   |
|                                                                        |   |                              |   |   |   |
| Net      sales:                                                             |   |                              |   |   |   |
|  Forged      and Cast Rolls                                            |   | $                                 | 57,423 |   | $ | 69,485 |   |
|  Air and      Liquid Processing                                        |   |                              | 28,332 |   |   | 28,345 |   |
|   Total      Reportable Segments                                  |   | $                                 | 85,755 |   | $ | 97,830 |   |
|                                                                        |   |                              |   |   |   |   |   |
| Income before      income taxes:                                            |   |                              |   |   |   |   |   |
|  Forged      and Cast Rolls                                            |   | $                                 | 13,957 |   | $ | 14,887 |   |
|  Air and      Liquid Processing                                        |   |                              | 2,221  |   |   | 2,586 |   |
|   Total      Reportable Segments                                  |   |                              | 16,178 |   |   | 17,473 |   |
|                                                                   |   |                              |   |   |   |   |   |
|    Other      expense, including corporate costs – net |   |                              | (4,401 | ) |   | (2,066 | ) |
|   Total                                                           |   | $                                 | 11,777 |   | $ | 15,407 |   |
|                                                                        |   |                              |   |   |   |   |   |

| Approximate      open claims at end of period            |   | 9,402  |   |   |   | (1     | )      |
|----------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|
| Gross      settlement and defense costs (in 000’s) | $      | 6,270  |   |
| Approximate      claims settled or dismissed             |   | 237    |   |
|                                                     |   |   |   |   |   |   |   |

|   | (1) Included as “open claims”      are approximately 3,239 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 pending cases, by type of injury claimed and jurisdiction where the      claim is filed; |
|--------------------|--------------------------------------------------------------------------------------------------------------|

| §   | 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. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

| 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 |
|---------------------------------------------|

| - 20      - |
|-------------|

----

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

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

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

|   | (a) | 1988      Supplemental Executive RetirementPlan |
|--------|-----|-------------------------------------------------|

|   | 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-PittsburghCorporation |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------|

|   | 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 Statementdated |
|--------|------------------------------------------------------------|

|   | March 6,      2008. |
|--------|---------------------|

|   | (d) | Retirement      and Consulting Agreement between Ampco-Pittsburgh Corporation and Ernest      G. Siddons dated April 30, 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:  May 8,      2009 | BY:  s/Robert A.      Paul                      |
|                              | Robert A.      Paul                                                                                                                                                |
|                              | Chairman      and                                                                                                                                                  |
|                              |   Chief      Executive Officer                                                                                                                           |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
| DATE:  May 8,      2009 | BY:  s/Marliss D.      Johnson                                                          |
|                              | Marliss D.      Johnson                                                                                                                                            |
|                              | Vice      President                                                                                                                                                |
|                              |   Controller      and Treasurer                                                                                                                          |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |
|                              |                                                                                                                                                               |

----

| Exhibit | (10.d) | Retirement      and Consulting Agreement between Ampco-Pittsburgh Corporation and Ernest      G. Siddons dated April 30,      2009. |
|---------|--------|-------------------------------------------------------------------------------------------------------------------------------------|
|    |   |                                                                                                                                |
|    | (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                    |
|    |   |                                                                                                                                |