IN FOCUS

The global market for liquid pumps is projected to increase from 21.5 US$ bn in 2005 to 28.3 US$ bn in 2015. This is a result of a new multi-client market report, which will be released end of November by the OneStone Consulting Group in cooperation with German pump expert company SIM Senior Industry Managers Dr. Wittekindt & Partner.

Diversified industrial manufacturer Eaton Corporation announced net income per share of $1.30 for the third quarter of 2005, an increase of 19 percent over net income per share of $1.09 in the third quarter of 2004.

ABB, the leading power and automation technology group, said it has repurchased a total of CHF 392 million of its CHF 500 million, 3.75 percent bonds due in 2009.

Grundfos has invested EUR 4 million in new facilities in Turkey, and last Friday the Group inaugurated an assembly plant as well as a new sales office on the outskirts of Istanbul.

Tecumseh Products announces that it will be suspending its

quarterly dividend until profitability improves to fund business improvement and new product initiatives.

Baker Hughes Incorporated postponed its Analyst Conference, originally scheduled for Monday, September 26 and Tuesday, September 27, to a date to be announced.

The European positive displacement pumps market is being increasingly influenced by the growth of east European economies and the imminent accession of eastern European countries into the European Union (EU) is expected to reinforce confidence and bolster demand.

ABB, the leading power and automation technology group, today announced its new targets for the period from 2005 to 2009. The company also outlined a strategy that emphasizes improved business execution and a broader approach…

In the first half of 2005, Sulzer continued to grow profitably. Sales were up 18.4% year-on-year at CHF 1157.8 million. Operating income (EBITA) rose by 25.4% to CHF 76.9 million, and net income amounted to CHF 58.9 million.

Flowserve Corp. reported that it completed on Aug. 12, 2005, its previously announced $1 billion refinancing of its high yield notes, Term A and Term C loans, and consolidation of its revolving credit and backup liquidity facilities.