IN FOCUS

Sulzer has finalized the acquisition of the Interturbine companies in Lomm/The Netherlands. This transaction, which has received the approval by the regulatory and antitrust authorities, is in line with Sulzer’s strategy of expanding its industrial activities in surface and material technologies.

WHITE PLAINS, N.Y., Oct. 31 /PRNewswire/ — ITT Industries, Inc. (NYSE: ITT) today announced that Sidney Taurel, Chairman, President and Chief Executive Officer of Eli Lilly and Company, is resigning his seat on the company’s Board of Directors effective today.

HOUSTON–(BUSINESS WIRE)–Oct. 30, 2000–National-Oilwell, Inc. (NYSE:NOI) today announced that it has signed, through a wholly-owned subsidiary, a Memorandum of Understanding with Aker Maritime ASA (OSE:AMA) to acquire the stock of Maritime Hydraulics (Canada) Ltd. for a total cash purchase price, including the assumption of certain debt obligations, of Canadian $25 million (approximately U.S. $16.5 million). The transaction is expected to close in January 2001.

Early in 2001, the Board of Management of the pump and valve manufacturer KSB AG, Frankenthal, will be extended to include Dr.-Ing. Willi Enderle (43).

The proposed merger between Sulzer Ltd and Sulzer Medica Ltd will not take place. The Boards of Directors and the Executive Management of both companies have acknowledged the critical assessment of this planned move by the financial markets. Sulzer Industries will continue the focus on Materials and Surface Technology. Sulzer Medica will further expand its core businesses of Orthopedics, Cardiovascular Prostheses and Dental Implants.

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.

Consolidated order intake by the Sulzer Corporation for the first nine
months of 2000 was 6 percent above the prior year at CHF 4260 million. Growth adjusted for acquisitions and divestitures was 11%, and 7% after adjustment for currency effects. All divisions contributed to this significant rise, in particular Sulzer Medica with consistently good sales development as well as the high demand for Sulzer Pumps and Sulzer Textil products.

IDEX Reports Record Third Quarter Results; Similar Fourth Quarter Anticipated; Record Year Expected

Pentair’s 3rd Quarter EPS in Line with Revised Expectations, Sales Up 18%; Water and Enclosures Groups Continue Strong Growth Momentum