IN FOCUS

Solid growth in sales, particularly in the largest segment, water and wastewater. Lower margins for products to the process industry.

Invoiced sales for the first half of 2000 increased to MSEK 1211 (last year MSEK 1165) This corresponds to an increase of 3% adjusted for currency fluctuations and acquisitions. The increase was good in the water and wastewater segment which accounts for more than half of ABS sales. Deliveries to the process industry were at the same level as last year, whereas shipments to the building and construction area increased only thanks to the acquisition of CH&E in the US.

On 01.07.00, Dr. Christopher Braun took over the position of managing director of the engineering company GEA Jet Pumps GmbH in Ettlingen/Germany.

Dr. Braun started his career as managing partner of the engineering company BCR GmbH Bochum after receiving his doctorate from the Ruhr University in Bochum in 1990. In 1995 he joined Hürner Umwelttechnik GmbH as technical director and took over the position of managing director in 1996. Jörg Trefzer, who was temporary managing director of GEA Jet Pumps for one year, resumes his position as manager of the division single jet pumps and gas scrubbers.

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.

MILWAUKEE, WI-After more than 25 years with WICOR and its Sta-Rite subsidiary, Joseph P.Wenzler, WICOR`s senior vice president and chief financial officer, will retire effective June 30, 2000.

The economy’s upward swing, which has been apparent since last year, continued in the first half of the year 2000. Almost all regions, including the emerging economies in Asia and Latin America, registered rising demand and production. In the Western European industrialized countries the economy picked up markedly, which also improved the order intake situation in the German mechanical engineering sector. This development is beginning to show effect on the demand for pumps and valves.

Eaton Hydraulics has appointed Motion Industries as its nationwide, authorized Maintenance, Repair and Operations (MRO) Distributor for its complete line of Eaton, Char-Lynn® and Vickers hydraulics products. This new agreement helps Eaton provide border-to-border, localized supply and customer support through Motion, enhancing Eaton’s existing distribution network of applied engineering distributors (AEDs).

After 18 years as head of Cardo’s Pump business area, Hans Borneson has decided to leave his post. He will be assisting Cardo’s group management team on a part-time basis in, for instance, acquisition matters primarily concerning the pump operation.

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.

Sanitaire Corporation, which became a part of ITT Flygt in January 1999, will supply over 100,000 diffusers and 96 large ABJ stainless steal decanters over an eight month period, beginning in April 2001, at a value of over US$12.5 million. The process equipment requires minimum maintenance, and enables plant personnel to observe effluent quality at all times, it also provides emergency overflow control and a uniform rate of discharge.

Operating profit reached 37 MSEK (same as last year ) thanks to the good development of sales of cost-effective pumps, mixers and aerators to the Water and Waste water segment. Invoiced sales for the first quarter of 2000 increased to 571 Million Swedish Crowns (last year 538).

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).