IN FOCUS

National-Oilwell, Inc. (NYSE:NOI) announced that it has acquired the Mono pumping products business from Halliburton Energy Services through the purchase of all the outstanding stock of Monoflo, Inc. in the United States and Mono Group in the United Kingdom.

WILO has introduced a new range of single and double-headed glanded pumps specifically designed to provide high levels of operating efficiency along with low operating costs. The new Wilo-BL, DL and IL pumps feature force-protected, bi-directional mechanical seals, IEC-standard motors and IP55 ratings for humid environments.

IDEX Corporation (NYSE: IEX) today announced a secondary public offering of 1.35 million shares of its common stock. All of the shares are being offered by KKR Associates, L.P. This offering will not increase the number of IDEX shares outstanding, and IDEX will not receive any proceeds from this offering. Banc of America Securities LLC will act as sole book running underwriter for the offering.

The product range changes of the UK based Selwood group include the new generation of super silent units that use the principles of modular construction similar to the standard pumps with as many common components as possible. Furthermore two basic chassis variations for the entry level units are introduced.

IDEX Corporation (NYSE: IEX) announced that it expects fourth quarter 2002 sales and orders each to be approximately $190 million and net income to be in the range of $11.5 to $12.5 million, or 35-38 cents per diluted share.

By 1 January 2003, the Wilo AG, based in Dortmund, Germany, having effected a turnover of 535 million Euro in 2001 and being one of the market leaders in developing pumps and pump systems for building services engineering, acquires the EMU Unterwasserpumpen group, located in Hof, Germany.

The acquisition will strengthen Wilo’s market position in sectors which boast of very quick economic growth.

IDEX Corporation (NYSE: IEX) today announced that Kimberly K. Bors, 42, has been appointed vice president – human resources for the corporation. She replaces Jerry N. Derck, 55, who retires at the end of January. Bors will report to Dennis K. Williams, IDEX’s chairman, president and chief executive officer.

Dover Corporation (NYSE: DOV) today announced that Mr. Joseph W. Schmidt has been named the Company’s Vice President, General Counsel and Secretary, effective January 1, 2002. Mr. Schmidt succeeds Mr. Robert G. Kuhbach, who was named the Company’s Vice President Finance and Chief Financial Officer in November 2002.

A contract, worth more than 11 million Euros, was recently signed between the pump manufacturer, Sulzer and Russia’s second largest oil company, Yukos. It is for modernizing 90 water injection pumps, operated by the Yukos owned oil company, Yuganskneftegas.

ITT Industries, Inc. (NYSE: ITT) announced that it has acquired the assets of PCI Membranes from Thames Water. The PCI Membrane products complement ITT Industries Fluid Technology’s pumps, mixers, aeration equipment and wastewater process systems, and will provide significant expansion opportunities for ITT Industries’ Sanitaire in the growing filtration and disinfection segments.