IN FOCUS

The rising costs of energy are shaping the $27 billion/yr pump market in a number of ways. This is one of the conclusions in the continually updated Pumps: World Market report, published by the McIlvaine Company.

During the first six months of 2005, the Grundfos Group has registered pre-tax profits of DKK 432m. Apart from last year’s record of DKK 461m, this is the best interim result ever. Sales have increased by 7 per cent, and turnover reached DKK 6.356 b.

Cardo Group reports decreased sales and earnings in the interim report for the first half year 2005, while the pump business (ABS Pumps) shows a positive trend in the infow of orders. The company announces a group-wide reorganization into a purely operational industrial group aimed at business-to-business customers.

In the first six months of 2005, the volume of orders in the KSB Group increased by 14.3 percent compared with the same period last year. Sales revenue increased by 12.8 percent.

Dresser-Rand Group announced that it has priced its initial public offering of 27,000,000 shares of common stock at $21.00 per share. All of the shares are being offered by Dresser-Rand Group Inc.

Jarlway Holdings plc, the holding company for Jarlway Machinery Inc., one of China’s largest concrete pump manufacturers, announces that dealings in its ordinary shares have commenced on AIM, a market operated by the London Stock Exchange.

According to Curtiss-Wright’s second quarter financial report the Flow Control division increased the sales to $114.3 million, up 33% over the comparable period last year due to solid organic growth and the contributions from the 2004 acquisitions.

The members at the Annual General Meeting of the Kirloskar Brothers Ltd, held on July 16, 2005, have approved to sub-divide each of the equity share of the company.

Dover Corporation earned $123.5 million or $0.61 diluted earnings per share from continuing operations for the second quarter ended June 30, 2005, compared to $108.0 million or $0.53 EPS from continuing operations in the prior year, an increase of 14% and 15%, respectively.

ITT Industries announced second quarter 2005 net income of $137.7 million, up $25.7 million over the second quarter 2004 including the net benefit of special items.