Gardner Denver has created a new Pump Division

22.08.2001

Gardner Denver, Inc. Announces Strategic Organizational Initiatives

QUINCY, Ill., Aug. 21 /PRNewswire/ -- Ross J. Centanni, Chairman,

President and CEO of Gardner Denver, Inc. (NYSE: GDI) announced today that the

Company has established a new division and a new corporate officer position.

"As Gardner Denver continues to acquire new companies and to grow its existing

businesses, the needs of our organization are becoming increasingly dynamic,"

Centanni stated. "Therefore, we must continually assess whether our existing

business structure and practices are best enabling us to deliver quality

products and services and to achieve continuous improvement in operations

performance, integration of acquisitions and overall profitability."

Consistent with this objective, Gardner Denver announced that it has

created a new Pump Division and now operates through three separate divisions:

Compressor Division, Blower Division and Pump Division. "The Pump Division,

which was previously part of the Compressor Division, has recently realized

substantially increased revenues, driven by strong demand for drilling and

well stimulation pumps as a result of continued high oil and natural gas

prices," said Centanni. "This factor, coupled with potential future

acquisition opportunities to otherwise expand Gardner Denver's pump business

in petroleum and other markets, served as the impetus for us to establish the

new Pump Division at this time." During the interim period while the Company

recruits a Vice President and General Manager, Mr. Centanni will have direct

responsibility for the Pump Division, including facilities in Tulsa, Oklahoma,

Houston, Texas and Fort Worth, Texas.

In a related move, Gardner Denver also reported that Helen Cornell has

been appointed to the new corporate officer position of Vice President,

Strategic Planning and Operations Support, reporting to Mr. Centanni. In her

new role, Ms. Cornell will have responsibility for Strategic Planning and

Development, Operations Support and Improvement, Technology Development and

Investor Relations. She most recently served as the Vice President of

Compressor Operations and previously also held the position of Vice President,

Corporate Secretary and Treasurer for Gardner Denver. "Because of her diverse

background and skills, Helen was a natural fit for this new position, and we

expect her to make positive contributions in all of her new areas," noted

Centanni. Dennis Shull will continue in his existing capacity as Vice

President and General Manager, Compressor Division.

"We believe the new three division structure will permit the Company to

better focus on the unique characteristics of its separate product lines, and

thereby, to respond more quickly and effectively to our customers," Centanni

concluded. "In addition, the commitment of valuable additional management

resources to strategic planning and development and process improvement better

positions Gardner Denver for enhanced future growth and profitability."

Gardner Denver, with 2000 revenues of $379 million, is a leading

manufacturer of reciprocating, rotary and vane compressors and blowers for

various industrial applications and pumps used in the petroleum and industrial

markets.

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