IN FOCUS

China is the power station market with the strongest growth in the world. The pump and valve manufacturer KSB is currently benefiting from the rising economic power’s hunger for energy. In the first half of 2005, the company received orders for equipping new plants in the amount of € 60 million.

Crane Co., a diversified manufacturer of engineered industrial products, reports second quarter 2005 net income increased to $35.7 million, or $.59 per share, compared with net income of $31.2 million, or $.52 per share in the second quarter of 2004.

ITT Industries, Inc. announced the appointment of John P. Williamson to the newly created position of Vice President, Director of Operational Excellence.

Roper Industries, Inc. reported record results for the second quarter ended June 30, 2005. Diluted earnings per share (DEPS) were $0.82 in the quarter. Cash flow from operating activities grew 56% over the prior year to $63 million, which represents 176% of net earnings.

Flowserve Corp. reported increased bookings, stable backlog and a debt repayment in the second quarter of 2005, and provided other updates.

The four models in the CompactTurbo™ series are the right vacuum pumps for employment in coating, the semiconductor industry, research and development, as well as numerous industrial applications.

Tapflo AB, with its head office in Kungälv, Sweden has purchased 49 percent of the shares in the Milan-based company, CDR Pumps. Tapflo will thereby have access to the Italian pump manufacturer’s vast technical competence as well as the company’s wide range of magnetically driven centrifugal pumps.

Pentair today announced its second quarter 2005 results, highlighting a 50 percent year-over-year increase in earnings per share (EPS) from continuing operations driven by stronger margins in Pentair’s Enclosures and Water businesses, coupled with share gains in robust Enclosures markets and the contributions of the new water businesses acquired in the WICOR purchase in August 2004.

Thanks to innovative products such as our cancer treatment Erbitux and liquid crystals, Merck’s profitability continues to rise,” said Bernhard Scheuble, Chairman of the Executive Board of Merck KGaA. “Excluding the gains from our strategic divestments, Merck’s profit after tax rose a very substantial 27%. Excluding divested units, Merck continues to expect Group sales to rise by a single-digit rate in 2005.”

IDEX Corporation announced record financial results for the three months ended June 30, 2005. Orders were up 18 percent, sales increased 16 percent and net income rose 27 percent to an all-time high of $28.9 million. Diluted earnings per share were 55 cents versus 44 cents in the year-ago period.