John Crane-Lips wins orders in US

Steel industry sets sights on auto fuel tanks

Meeting

stricter

requirements

permeability

may

require

fuel tanks

to become

more costly, thereby perceived

enjoyed.

and

Peter

the

Automotive

fuel tanks

Steel successfully

the permeability issues, Advances

in

to

formative

stages,

in the forming

shapes,

environmentally

efficient

veh-

icles, the global steel industry

is

edge

and

- an application

environmentally

considerable plastics,

market

reports

share

to

Iron and Steel Institute. In 1999, the global

approximately production

was steel. Market steel’s

market

about

41%

with

the

58% of

analysts

by

will

2004.

evaporative

improved

steels

processes,

their

have

they are searching

are

of plastic

currently

the California (CARB)

told

are

C.

Martin,

Automotive

American (AISI).

Iron

performance

of steel

material

suppliers.

called

the

Steel

Fuel

received

automotive

regulations

California, and

but other

tanks

not

durability

fuel

several

sizeable

and

relating

to ocean-going

Board

most environmentally-conscious

fuel

advantage

can

other

continue for

a paint

an

importance to tighten end-of-life

steel Corus

Stahl, bringing

a

Ocean

steel

provide for

tanks

goals

safely

in

inter-

the

conditions

John

encountered

the

including

the

propellers,

shaftlines

exploring steel

bearings

capabilities

electric six

the

and

propellers

customers. Alliance as

could

will

‘clean

safe,

plants.

and

seals.

are driven motors

contract,

will supply

next generation and

Alaska.

million

Crane-Lips

thrust

The

twin

by double

powered

environmentally burn’

on

Tacoma,

to Anchorage,

In a US$3.4

in and

hostile

from

route

Washington is

Express,

frequently

systems,

tank

steel

the

propulsion

‘one-stop-shop’ fuel

the two

efficiently

include

whereby

Additionally, promote

the

in the next few months.

fuel

order,

Trailer

to operate

from

strategies

the

Roll-on/Roll-off

order

representation

Additional

community

million

Totem

and

the

to develop

for

vessels will be built for their owner,

as

weather

working

Corvette

ships

Asian

are

Alliance’s

stealth

For the Alaskan

group.

The

order for six Class

US$l50

(such

fuel systems

Visby

key order from the Korean Navy.

to the SASFT

national

million propulsion

Swedish Navy. It has also won a

global view of fuel system materials

expected

they

and

challenging

Additionally,

ThyssenKrupp

Steel

recyclable,

of particular

Switzerland),

meet

emissions

for fuel tanks, fully

as governments requirements

influence

countries.

(Soudronic,

Precision-Goshen).

YS-2000 advanced

supplier

Group),

the

system component

and Pilot

(Wynn’s

designed,

ever

for

won a US$l.S

Tower

supplier

vessels

Ala&t Iieight route. Second it has

as Visteon,

(The Magni

cargo

scheduled

system

Mexico,

Group)

ship

has

a weld system

Usinor

provide

and

Industries),

European

to

interest

Canada,

manufacturers

is

(SASFT),

(such

a gasket

it

orders vessels.

propulsion systems for two of the

Group,Canada,

Group,

not only in

only

Narmco

First,

group,

new

for

from

Tesma/Magna,

of users

Alliance

Tanks

manufacturers

and

senior

many

and

requirements are

in

The TI Croup’s John Crane-Lips, the marine arm of its John Crane

tanks,

The

Strategic

initial

manufacturer

understand

requirements

and

fuel

manufacturers,

of

and Steel Institute

“Automakers

vehicles.”

of technologies

to

Applications,

that CARB

also

unable

requirements

that take effect in 2004,”

director,

fuel

to

plastic

Air Resources

Darryl

states,

us that

because

the stricter

said

further

encourage

development

participation

forming

for alternatives

fuel tanks,

meet

products

Automotive/Me&a,

“Automakers

designs

and

sound

group

fuel tanks.

plastic

to provide

JohnCraneLips wins orders in US

system

and

choice

in a

of time,” said Mould.

multi-functional

to

vehicle manufacturers

rethinking

a great deal of progress

short amount

dip

along with

and

the

project

of stricter

requirements,

in

anticipate

sealing systems division, has won

emissions

durability

we

an international

However,

expectation

the steel

durable

To

customers. still

AISI is organizing

of fuel tanks

share

3and

for its customers.

the American

are

These

including

to continue

has

steelmakers,

leading

will enable

affordable,

has lost

tanks.

welding

hydroforming,

making

steel

with

processes,

turning its attention to fuel tanks that

fuel

of

improved make

dimensional

industry

such

are

response

of the Alliance

we

coupled

and

the formation

AISI.

“We

by the positive

and potential

for

safe,

encouraged

activities

AISI.

suppliers

materials,

produce

of

Although

attractive

lightweight

the Alliance’s

behalf

as

quest to provide

automakers

of will

steels that allow for

materials and processes that help affordable,

on

president

among

corrosion-resistance In its continuing

coordinate

non-

Steel Technologies

generated

flexibility

complex

the

materials,

highly formable greater

cost

addresses

and

Mould,

have

and affordability

according

durable

choice for fuel tanks.

heavier

and

plastic

affordable, permeable

mitigating

weight

advantages

for

plastic

diesel-electric

by

friendly power

Sealing Technology No. 81

The propellers Crane-Lips optimum ocean,

supplied

are

performance

on

through

the

that can extend along

Cook

Alaska.

in its fluid handling,

the

engineered

materials

operating

loss

icing

for up to 100 miles Inlet

Glacial

needle-sharp

severe

to Anchorage,

lava silt,

particles

a

Crane-Lips

won

John

a USs1.8

component

order

for six YS-2000

Visby

Class

stealth

ships for the Swedish

with

Corvette

options

shipsets $2.4

for

couplings Crane

another

by John

Flexibox. Crane-Lips

won a key order Navy to equtp generation

from

has also

the Korean

the first of its next

of destroyers,

the KDX-

Destroyers

under

Class

construction

by Hyundai,

proprietary

Deep

sternshaft

and bulkhead

order is worth

US$I4.7

Britain.

with

Sea

its

Seals

6%,

by US$G.I

to US$89.7

purpose

US

service

will

of

225

cc) will

emissions

the

EPA

most of engine

hydrocarbon exhaust

and

emissions

to 1995

Crane,

which produces

aerospace, defence,

parts for the construction,

fluid-handling

and

industries, from

trucking,

fell to USs387.9

USs405.3

for

million

All engines

meeting

emissions engine

levels

1 engines EPA

will

the

with

last

year

2000

have been the

same

absent

the

of Invatec.

Dana results: remediation plans in place Dana Carp’s results for the quarter

sales

ended June 30, showed sales were

million

approximately

million

down slightly from record sales of

operations,

US$3.3

billion,

were

US$256.4

of 1999.

backlog

impact

from

from

A lower

and a 3% negative

currency

contributed,to

the

translation

the sales shortfall

Operating quarter

totalled

after

million,

quarter,”

said

the

share.

date.

to

include

profits and

efficiency

programs affect

2

an e-SPEC mark

advanced

improvement

continued

mentals

continued

in a number including

chemicals

and power.

decidedly

optimistic

Flow

(FSD), which

funda-

of key process

total

2000

provides

Division services and

were million,

the

quarters

was

of

for

the

US$390

non-recurring

million

results income or

last

result

per share. This

net

of US$75

net

down

income

or US$2.50

Comparable

of

expenses. consolidated

Net

included

income

included

billion,

as

divestitures. two

of per

the same period

again

We remain

years. Solutions

US$6.8

million,

the

million

after-tax six-month

first

results

US$5

from

For

or USS1.14

Last year’s

petroleum,

about

million

Dana’s

year,

net

was US$145

net income

sales were

to improve,

USs9.6

of 1999,

reported

non-recurring

slightly

or

non-

reported

quarter

approximately

In addition,

strengthening

industries,

The

to positively

our operations.

and the coming in

total sales and

were up. Our cost reduction

reflecting

an

operations

the

or 95 cents per share.

second

were

comparable

down year-over-year,

of

tax

for the period

from

2 to

for million,

expenses

million

US$190

prior

income US$154

US$l .Ol per share. Including

income

“I am pleased with our operating

chairman,

for this difference.

recurring for

operations.

for the second

billion last year. Recent

sales

Phase

technologies

power products.

of

CEO C. Scott Greer. “Though

the EPA phase

which

Honda

in the prior quarter

would

compared

(100 -

purpose

a year

of its major segments.

Sealing Technology No. 81

general

hang tag bearing

environmental

2000

a 7% decrease

bookings

logo, a new Honda-exclusive

earlier due to lower sales in several

margin

acquisition

operating to 11.7%

12.0%

Second

13.3%

company

(225 cc

million

symbolises

2000

with

due

Invatec.

slightly

period

and

levels four years prior

Honda

of

quarter

operatmg

period.

were primarily

dipped

president

will meet the EPA final

revenues

Second

US$109.2

year

acquisition

Flowserve

and larger)

Second-quarter

the

levels.

52 cents a share excluding

the requirement.

the valve

US$275.2

quarter

trends

Class 2 engines

a year before.

Second

in January.

quarter

comparable

All Honda

emissions

with

in the prior

acquisitions,

EPA compliance

operating items, up from 50 cents

compared

million

second

US$159.6

Protection

1999. Crane reported earnings of non-

million

to

the

US$3.4

levels six years

the required

were

divestitures more than accounted

purpose

meet

of 2000

excluding

achieve

Class

in

quarter

Sales from

level throughout

All Honda

have

include

9% to US$299.2

opening

compared

for the year-ago

Revenues

increases

with

comparable

second

oxide

million

period.

These

an

compared

company

by Flowserve

with

of 42%

in the prior year period.

for the final phase in

general

million.

repair

increase

operating million,

levels of the

standards

will

second

would

bookings

and

million,

its gasoline

from

quarter

engines

Environmental

Honda

million, or 57 cents per in the second

2000

2000

impact

orders received by Invatec,

the year 2006.

million,

share,

US$3 15.7

quarter

Agency’s (EPA) Phase 2 emission

by 30%

share,

been

bookings

of US$18.7

for

recorded

1999.

negative

translation,

2000

to with

of

quarter

income

US$13.1

seals

equipment,

second

compared

23%

quarter

mechanical

year period.

company’s

compared

a 2%

currency

quarter

compared

net

per

from

of gasoline

nitrogen

cents

second

line-up

meet the emissions

the

million

Excluding

increased

line up-reducing

78

US$309.4 the

comparable acquisitions,

increased

of Honda’s

CN,

US$39.3

Overall,

bookings

engineered flow control

margin

5% on a year over year

basis.

most

expectations.

income rose to US$47.8

from excluding

acquired

general

increase

for the second quarter of 1999.

increased

Honda to meet stringent emissions levels

a 50%

of 33

with 22 cents a share

Bookings

earnings rose but trailed analysts’ company’s

a share,

compared

second

net income

2000

Second

second-quarter The Stamford,

Corp reported

operations,

emissions

or

for the

000.

Crane Co sees 42 earnings rise

based

million

or

cents

quarter.

world-wide

USA,

sales

million,

Flowserve quarter

seals. The

over US$500

co

or

due in part

Aerospace

By late 2001,

Crane

million,

million

to the closure of a steel valve facility

decreased

Flowserve results: pleased with lnvatec acquisition

second-quarter

six

Metastream

will be provided

Finally, John

2

worth

Special

in sales to

Navy,

a further

and spares

million.

sales,

The unit suffered

handling

to $117

second

advanced

and an

control

problems.

sales declined

in

system

propulsion

and

segment

increase

million.

Fluid

frozen,

contract,

has

million

US$32.6

1 l%,

second

a 5%

lower sales

aerospace

in

from production

is a major hazard. In

despite

creating

when

reported

for

but they also have to ensure

passage

The company

by John

designed

US$2.10

after tax.

from of

1999

US$352 per

share,

0