New Head of Gardner Denver Pump Division

12.03.2002

QUINCY, Ill., Feb. 27 /PRNewswire-FirstCall/ -- Ross J. Centanni, Chairman, President and CEO of Gardner Denver, Inc. (NYSE: GDI) has announced the appointment of Richard C. Steber to the corporate officer position of Vice President and General Manager of the Pump Division.

Gardner Denver is a leading manufacturer of compressors and blowers for industrial applications and pumps for petroleum and industrial markets. Mr. Steber will have worldwide responsibility for the Company's pump product offering, with applications in oil and natural gas production, drilling and well servicing, and water jetting for industrial cleaning and maintenance. Prior to the appointment of Mr. Steber, Mr. Centanni served as the General Manager of the Pump Division since its establishment in August 2001.

"The Pump Division, which was managed as part of the Compressor Division until August 2001, realized substantially increased revenues in 2001, driven by strong demand for drilling and well stimulation pumps," stated Centanni.

"By separating the Pump and Compressor Divisions, we are able to increase our focus on our product lines and more quickly respond to our customers' needs. With Rick's depth of experience in the industrial pump market, we are also better positioned to grow through acquisitions in a broader market segment."

Prior to joining Gardner Denver, Mr. Steber was employed by Goulds Pumps since 1977. His latest assignment was President and General Manager, London, UK, with responsibility for operations in the UK, Germany and Austria. His career at Goulds included assignments in Sales, Marketing and Product Development in both domestic and international markets. Mr. Steber received his BS degree in Engineering from Syracuse University and has completed continuing education in Accounting, Value-Based Six Sigma and Executive Development.

Gardner Denver, Inc. (NYSE: GDI), with 2001 revenues of $420 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. For more information, visit Gardner Denver's website at

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