IN FOCUS

Pentair announced that it has completed two new financing arrangements totaling $700 million effective today. The new arrangements comprise a $200 million private placement of senior notes with a 10-year maturity, and a $500 million revolving credit facility with maturity in three years.

ITT Industries, Inc. today announced second quarter 2003 net income of $99.9 million and diluted earnings per share of $1.06, up $7 million and $0.07 respectively over the second quarter 2002.

JABSCO, a leading manufacturer of industrial flexible impeller, diaphragm, and centrifugal pumps and system accessories, now offers the Dual Sensor Max VSD Water Pressure System.

Under the name Sinamics, Siemens Automation and Drives (A&D) has launched a new generation of drives at the Hanover Fair Industry 2003. The new drives are suitable for any kind of machine and are designed to match the Simatic and Simotion automation systems from Siemens.

Sales and earnings performance of BWT is in 2003 considerably impaired by the weak semiconductor industry business. Due to the decline in the semiconductor industry business of the “AST – Aqua Systems Technologies” division, the Management Board is reducing the sales and earnings forecasts of the BWT Group for 2003.

Crane Co. (NYSE: CR) today reported second quarter 2003 net income of $26.0 million, or $0.44 per share, in line with previous guidance and even with second quarter 2002 net income of $26.6 million, or $0.44 per share.

October is coming and that means the Aquatech Asia 2003 will open its doors. Read the latest details on the Aquatech Asia Forum and see the list of exhibitors and supporters.

Grundfos appoints Larry Wimmer President of the Grundfos Sales Company (GPU) in the U.S., effective June 17, 2003. Larry will also remain President of the Grundfos Manufacturing Company (GMU).

Grundfos Pumps Northern Region, which has had sales responsibility for Iraq within the Grundfos world since the late 80’s, has secured a £1.5M order for immediate shipment.

Wilo Salmson Components, part of Wilo AG, has been awarded ‘Exzellenz Supplier Quality 2003’ by Vaillant Hepworth Group, the largest European manufacturer of domestic heating and hot water systems.