IN FOCUS

CHARLOTTE, N.C., Sept. 26 — United Dominion Industries Ltd. (NYSE: UDI, TSE) announced today that it is in discussions with several parties concerning a possible sale of the company. J.P. Morgan & Co., Inc. is advising the company.

Sulzer makes drastic changes: Medical Devices and Surface and Materials Technology form the core of the new corporate strategy. These areas offer potential for high growth and profitability. As a consequence of the new strategic direction, new owners will be sought over the next several months for five business units (Infra, Pumps, Textil, Turbo and Burckhardt) with a total of over 14’600 employees. At the same time, Sulzer plans to make acquisitions of over CHF 2 billion within two years. Sulzer Medica Ltd will merge with Sulzer Ltd – this is subject to the approval of their shareholders. The strategic rea lignment will lead to a reduction of approximately 300 jobs in corporate services world-wide, half of which in Switzerland. Throughout this transition, Sulzer will honor its social obligations to its employees.

On October 10, Grundfos officially opened a new production factory in Tatabánya, Hungary, in the presence of His Royal Highness, Prince Joachim, as well as representatives of the Hungarian government and others. The new 14,500 sq m factory will hold Group motor production.

DALLAS – Flowserve Corp. (NYSE: FLS) today announced the completion of its acquisition of Ingersoll-Dresser Pump Co. from Ingersoll-Rand.

The $775 million acquisition creates the world’s largest pump company serving the petroleum, chemical and power industries and the second largest pump company overall.

The acquisition by Sulzer of the pump business of Ahlstrom Corporation, Helsinki, Finland has now been finalized. The parties have completed negotiations and agreed to a takeover price of EUR 160 million (about CHF 250 million). The transaction has also been approved by the antitrust authorities.

Sulzer has acquired the pump activities of the A. Ahlstrom Corporation, Helsinki. Final closing is expected in mid May, subject to approval of the regulatory and antitrust authorities. This strategic acquisition gives Sulzer a leading position in pumps for the pulp and paper industry. Sulzer Pumps sales will rise thereby from EUR 445 million (CHF 710 million) to EUR 580 million (CHF 930 million). Personnel will increase by 1000 to about 5000 employees in total. The purchase price is approximately EUR 145 million (CHF 230 million).

Denmark-Finland. As from May 1 2000, Sarlin Pumps of Finland will be taken over by the Grundfos pump manufacturing Group, reaffirming its strategic objective of becoming a leading player within the waste-water pump business.

A contract confirming the purchase has been signed. In the future the Sarlin Group will focus on the business areas of Beamex, Sarlin Furnaces, Sarlin-Hydor, and Sarlin Automation.

Sarlin Pumps bring to their new owner complementary waste-water products, service, and competence, making Grundfos the natural choice for customers, including wholesalers, utility companies, and contractors looking for complete pumping solutions in the framework of waste-water pumps sized up to 600 kW.

Sweden. At the turn of the year Grundfos’ Swedish sales company took over all shares and activities of JL Pump Co AB with workshop and offices in Gothenburg as well as a branch office in Stockholm.

Neuwiese/Dortmund. The Wilo GmbH, one of the leading European pump manufacturers, hands over its district heating business to PEWO Energietechnik GmbH (a company of the TA Triumph-Adler AG group).