IN FOCUS

Report on the Financial Year 2001: The economic trough that gathered in the spring of 2001 continued to affect the overall economic situation in the rest of the year. In more and more countries and regions of the world, demand for capital goods declined. This led to an overall worsening of the situation in the mechanical engineering sector, including the pumps and valves industry.

Sulzer Pumps order intake rose by 13% to CHF 984 million (adjusted: +8%). Due to the varying developments in individual market segments, only modest growth is expected for 2002. Strategic focus for the year will mainly be on operational improvements.

TECUMSEH, Mich., Jan. 22 /PRNewswire-FirstCall/ — Tecumseh Products Company (Nasdaq: TECUA, TECUB) announced today its 2001 fourth quarter and full year consolidated results as summarized in the following Consolidated Condensed Statements of Income.

2002 Outlook Shows Continued Earnings, Cash Growth

– FY2001 operating margin expected to increase despite lower volume

– FY2001 free cash flow to exceed $250 million

– Outlook for 2002 assumes no near-term economic upturn

– Management actions will support strong margins, cash flow

According to a Financial Times article of Dec. 14, 2001 ITT Industries, the US manufacturing group with products ranging from electronic components to valves and pumps, is to cut about 3,400 jobs – approximately 8 per cent of its workforce – as it fights the economic slowdown.

NORTHBROOK, Ill., Dec. 17 /PRNewswire/ — IDEX Corporation (NYSE: IEX) today announced that its Board of Directors has declared a regular quarterly dividend of 14 cents per common share. The cash dividend will be paid on January 31, 2002, to shareholders of record on January 15, 2002.

Sulzer Pumps order volume for the first nine months increased by 18% (+5% adjusted) to CHF 750 million, consolidating in the third quarter after the outstandingly successful first half-year.

Sales growth with stagnating order intake

NORTHBROOK, Ill., Nov. 16 /PRNewswire/ — IDEX Corporation’s (NYSE: IEX) Chairman, President and Chief Executive Officer Dennis K. Williams, and Senior Vice President – Finance and Chief Financial Officer Wayne P. Sayatovic will speak to the investment community at Deutsche Banc Alex. Brown’s Basic Industries Conference in New York on Monday, November 26 at 2:30 p.m. EDT.

CLEVELAND–(BUSINESS WIRE)–Nov. 14, 2001–Diversified industrial manufacturer Eaton Corporation (NYSE:ETN) today announced plans for a 10% staff reduction across its corporate-level employment. About 90 positions in the Greater Cleveland area will be eliminated.