IN FOCUS

Franklin Electric Co., Inc. reported record second quarter 2005 net income of $13.5 million, an increase of 25 percent from $10.9 million for the same period a year ago. Diluted earnings per share were $0.59 compared to $0.48 for the second quarter of 2004.

Gardner Denver, Inc. announced that revenues and net income for the three months ended June 30, 2005 were $250.3 million and $14.7 million, respectively. These results represent a 77% improvement in net income and 55% increase in revenues, compared to the second quarter of the previous year.

Diversified industrial manufacturer Eaton Corporation announced net income per share of $1.37 for the second quarter of 2005, an increase of 33 percent over net income per share of $1.03 in the second quarter of 2004. Sales in the quarter were a record $2.83 billion, 18 percent above the same period in 2004.

Flowserve Corp. announced it is commencing a major refinancing effort and has entered into a commitment agreement letter with Bank of America and Merrill Lynch & Co. to borrow up to $1 billion, consisting of up to $400 million of a revolving credit facility and up to $600 million of term debt.

Companies such as GE, Siemens and ITT have expanded their water treatment and flow product lines to include the equipment and chemicals necessary for each step in desalination from primary filtration through secondary filtration and finally to the reverse osmosis process.

SKF reports an increase in sales of 11.4% for the second quarter 2005, measured in local currencies and compared to last year. Profit before taxes increased by 26%. The operating margin was 10,9% for the second quarter.

Sulzer again posted significant growth in order intake in the first six months of 2005: at CHF 1,304.7 million, orders were up 19.1% in nominal terms and 15.0% higher when adjusted for acquisitions and currency effects, compared with the same period the previous year.

Suppliers of pumps, valves, scrubbers, filters, and treatment chemicals are going to have to re-examine their business strategies due to the surge in oil prices.

The Asian market for hardware and consumables to create the ultrapure water needed by the power, semiconductor, and pharmaceutical industry will rise from $1.7 billion this year to $2.3 billion in 2008.

ABB, the leading power and automation technology group, said today it has signed a $2-billion, five-year revolving credit facility agreement with a group of 20 banks.