IN FOCUS

Sulzer Pumps’ order intake totaled CHF 240 million, 16 percent lower than in the same prior year period. This is largely attributable however to the significantly stronger Swiss franc compared to all other relevant currencies. After adjustment, order intake almost matched the prior year level (–2%), with good volume in the oil and gas and petrochemical industry sectors.

Crane Co. Reports First Quarter Results: Sales in the pump business were essentially flat while operating profit improved 16% and margins improved to 7.8% from 6.6% in the prior year quarter as this business began to benefit from its facility consolidation.

The Annual General Meeting of Sulzer approves all proposals of the Board. A dividend payment of CHF 6 per share was approved after dispensing with a dividend last year.

ABS has seen a solid 2002. This was not only due to an in-crease in demand for products but also due to ABS remaining proactive in areas such as staff development, acquisitions and cost reduction.

NORTHBROOK – IDEX Corporation (NYSE: IEX) reported that orders, sales, net income, and earnings per share improved from the fourth quarter and the first quarter of last year.

ST. PAUL, Minn.- Pentair (NYSE: PNR) today announced that its first quarter 2003 earnings per share (EPS) of $0.56 gained 30 percent over EPS of $0.43 in the same period last year.

CLEVELAND–Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) announced net income per share of $1.00 for the first quarter of 2003, an increase of 113 percent over net income per share of $.47 in the first quarter of 2002. Sales in the quarter were $1.92 billion, 12 percent above last year. Net income was $72 million compared to $33 million in 2002.

BWT 2002: Consolidated sales increased to EUR 431 million, strong market share gains on the European domestic market, cash flow at record level, full order book

At Cardo AB’s annual general meeting, the following members of the board were re-elected: Tuve Johannesson, Berthold Lindqvist, Fredrik Lundberg, Lennart Nilsson, Bengt Pettersson, Anders Rydin and Kjell Svensson.

Due to reduced order intake as a result of the general uncertainty that has been influencing world economy in recent weeks, further intensified by the war in Iraq, Management in Grundfos A/S, the pump group’s Danish production company, decided to reduce the number of staff by 250.