Cardo’s business area Pump has signed an agreement on the acquisition of all shares in Swedmeter AB, one of Scandinavia’s leading companies in the field of control engineering for water treatment processes etc.

Demand increased in Cardo Pump´s biggest segment, water and wastewater, as did demand from the process industry. In the building services segment, demand was somewhat lower than last year, mainly owing to the weak demand in Germany.

With staff reductions and the closure of some regional offices Cardo Pump, one of Europe’s leading manufacturers of pumps, mixers and aerators for water and wastewater applications, industry, and the building services sector – well-known under its brand names ABS, Pumpex and Lorentzen & Wettre – plans to adapt to the market situation.

Earnings for last year included non-recurring income relating to a pension refund of SEK 69 million.

DALLAS, July 27 /PRNewswire/ — Flowserve Corp. (NYSE: FLS) announced

today that Carlos Cardoso will join the organization as president of

its Pump Division, effective Aug. 13, 2001.

– Inflow of orders: SEK 2,900 million (2,357)

– Invoiced sales: SEK 2,375 million (2,214)

– Operating earnings: SEK 100 million (107)

– Earnings after financial items: SEK 76 million (83)

– Earnings per share: SEK 1.63 (1.80)

In accordance with the proposal put forward by the board of directors

and president, the meeting declared a dividend of SEK 7.00 per share.

Thursday, April 5 2001 was established as the day of record for

dividend, and payment is expected to be distributed by VPC (the

Swedish Securities Register Center) starting Tuesday, April 10 2001.

The annual general meeting will be held on Monday, April 2 2001 at 5 pm at Storan, Malmö Musikteater, Östra Rönneholmsvägen 20, Malmö, Sweden.

Report on Operations 2000 of total Cardo Group

– Invoiced sales amounted to SEK 9,786 million (9,489).

– Operating earnings amounted to SEK 899 million (783), providing an operating margin of 9.2 percent (8.2).

– Earnings after financial items and minority share were SEK 783 million (674).

– Earnings per share after full tax amounted to SEK 18.93 (17.36).

– The Board of Directors proposes a dividend of SEK 7.00 (6.00) per share.

– Invoiced sales: SEK 6,851 million (6,748)

– Operating earnings: SEK 529 million (441)

– Earnings after financial items and minority share: SEK 438 million
(367)

– Earnings per share after full tax: SEK 10.47 (8.72)