IN FOCUS

As from Jan. 1, 2002, the Grundfos pump manufacturing Group took over 60% of the shares in South Korean pump manufacturing company Chung Suk. The sales agreement states that Grundfos will take over the remaining 40% of the shares over a period of two years. This is the first non-European company purchase made by Grundfos so far.

UPPER SADDLE RIVER, NJ – ITT Industries, Inc. (NYSE: ITT) announced that it has signed an agreement to purchase the business and assets of Precision Stainless Inc., a leading manufacturer of process vessels for the biopharmaceutical industry. Precision’s vessel products complement ITT Industries Pure-Flo valves and process systems and will provide significant growth opportunities for ITT Industries in the growing biopharmaceutical market segment.

Sulzer Turbomachinery Services agreed to acquire the US field service and repair company Enpro of New Orleans, Louisiana, USA. With around 120 employees, Enpro sales currently total about USD 21 million (CHF 35 million).

Charlotte, North Carolina – Maag Pump Systems Textron, a division of Textron Fluid Handling Products, has brought back an old familiar name to the hydraulic gear pump industry. Hydreco, which was formerly part of the David Brown Hydraulics group, is now a division of the Maag Pump Systems Textron Company and will focus on serving the construction, forestry, agriculture, military, and mining industries.

ABS has acquired Soprime, a French manufacturer of pumping stations. The acquisition is a result of The ABS Group’s intensified focus on service and after sales. ABS has also set up a subsidiary in Portugal to increase market presence.

In January 2002, on its seventieth anniversary, Varisco Pompe was acquired by SOVEMA S.p.A., an Italian company belonging to an important European group. As a result, Varisco becomes the core of the new pump division which will include other specialist pump manufacturers, creating synergies to aim for an even stronger position on the market.

Cardo has acquired the Finnish company Nopon Oy, one of the world’s leading manufacturers of products for aeration in connection with biological wastewater treatment. Nopon has a turnover of approximately SEK 120 million and employs 65 people. The Cardo Pump business area’s range of products for the water and wastewater segment is being supplemented by this acquisition.

Grundfos has acquired the company Dansteel Engineering India Pvt. Ltd., formerly owned by Det Danske Stålvalseværk (Danish Steel Works Ltd.). Dansteel Engineering India, located in New Delhi with 17 employees, has previously worked on developing software and control systems for the steel industry. Following Grundfos’ acquisition of the company, its resources will be used for developing software related to the pump industry.

BLUFFTON, Ind., Jan. 7 /PRNewswire/ — Franklin Electric Co., Inc.

(Nasdaq: FELE) announces the acquisition of Coverco S.p.A., located in Motta

di Livenza, Italy. Coverco is the leading manufacturer of oil filled

submersible electric motors and a leading manufacturer of above ground

standard and custom engineered TEFC electric motors for pumps, industrial

ventilation systems and other applications.

Cardo’s business area Pump has signed an agreement on the acquisition of all shares in Swedmeter AB, one of Scandinavia’s leading companies in the field of control engineering for water treatment processes etc.