IN FOCUS

Thomas Industries Inc. (NYSE: TII) has announced that the operating name of its pump and compressor business will be Rietschle Thomas. This will also serve as the brand name for the entire product line formerly marketed under the THOMAS and the RIETSCHLE brands.

Due to a greater demand this year, Pumps & Valves Asia is a stand-alone exhibition which will be much more focus than ever. The exhibition will draw more targeted visitors and provide more concentrated product promotions.

The industrial pump companies of Dover Resources (Wilden and Blackmer) had improved earnings with a slight improvement in sales. Cost reduction initiatives, favorable product mix and innovative new products drove this positive operating leverage.

Aesseal®, designer and manufacturer of seals and support systems, has taken a strategic decision to set-up a new branch in Pune, India.

Flowserve Corp. (NYSE:FLS) announced that John H. Jacko Jr. has been appointed to the newly created position of vice president, Marketing and Customer Management for the corporation. In his new duties, Jacko will report to C. Scott Greer, the company’s chairman, president and chief executive officer.

Sales, Earnings and Cash Flow Improve, 2003 Performance Depends on Strength of the Economy

IDEX Corporation (NYSE: IEX) reported that orders, sales, net income, earnings per share and cash flow improved for the year ended December 31, 2002.

In a difficult economic environment, the Sulzer Corporation upheld the level of order intake during 2002. While order volume declined nominally by 6 percent to CHF 1917 million, there is an increase of 2 percent in order intake after consideration of adjustments for acquisitions, divestitures, and currency effects.

ITT Industries, Inc. (NYSE: ITT) reported full year 2002 net income of $379.9 million and diluted earnings per share (EPS) of $4.06, up 37 percent and 33 percent respectively over the full year 2001. The comparison includes the $0.33 per share favorable impact of a tax settlement in the third quarter of 2002 and the net positive impact of restructuring reserves of $0.03 per share during the third and fourth quarters of 2002.

The Turbomachinery Laboratory, part of The Texas A&M University

System, announced that the 20th International Pump Users Symposium will be extended by new courses about mixer technology.

SGL Carbon recently won a contract to deliver a complete hydrochloric acid synthesis unit as well as 42 high-performance graphite pumps for the Australian Magnesium Operations (AMO), one of the world’s largest magnesium producers.