Cummins forecasts another record year in 2008

Cummins forecasts another record year in 2008

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NEWS/DIVIDENDS Antunes Filtration Technologies manufactures point of entry ultrafiltration systems. For further information, visit www.ajantunes.com

HPD adds CeraMem ceramic membranes to portfolio

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PD, a Veolia Water Solutions & Technologies company, has expanded its offering to include CeraMem ceramic membrane technology. “We are very excited about offering this unique technology to complement our core expertise in process design,” said HPD president, Jim Brown. “The CeraMem ceramic membrane technology will be instrumental in providing solutions to many of the issues currently limiting water and wastewater treatment systems.” The CeraMem technology was developed with assistance provided by the Small Business Innovation Research Programs of the Department of Energy, Department of Agriculture, National Science Foundation, and Environmental Protection Agency as well as funding provided by the Expeditionary Unit Water Purification program managed by the Office of Naval Research.

For further information, visit www.hpdsystems.com and www.ceramem.com

Cummins forecasts another record year in 2008

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ummins Inc expects to report a fifth consecutive year of record sales and profits in 2008, according to chairman and CEO Tim Solso. “Cummins remains on track for further profitable growth – this year and beyond – despite the economic uncertainty affecting some of our US consumer-oriented markets,” Solso said. “We have gained share in key markets in the US in the past year, and our international presence continues to strengthen. Our strong financial position today gives us the flexibility to invest in the people, products, facilities and technologies for future growth.” 6

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Speaking to shareholders at the company’s annual meeting from the Columbus Engine Plant, Solso outlined Cummins’ growth targets for this year: the company is aiming for 12% sales growth and an earnings before interest and taxes of 10% of sales. Cummins is also targeting a 20% return on equity and a 25% return on average net assets. Solso spoke of three broad global trends – increasingly strict emissions standards, the globalization of the world economy and rising demand for energy around the world – that should benefit Cummins over the next few years. “I’m proud of our efforts over the past several years to grow the company and improve our financial structure, which have produced good returns for our shareholders,” Solso said. “That work has positioned us extremely well, and I am more excited about the future of the company than at any time during my 37 years with Cummins.” For further information, visit www.cummins.com

Chinese filter market to reach Yn41bn in 2011

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emand for filters in China is projected to increase 14.4% per year to 2011 reaching Yn41 billion. Filters in China, a new study from The Freedonia Group Inc, says growth will be driven by solid increases in motor vehicle production in China, which together with a growing vehicle park, will drive both OEM and replacement filter demand. In addition, increasing manufacturing output, building construction spending and population urbanization will all stimulate demand for various types of filters. Government efforts to alleviate air and water pollution, and to improve the quality of drinking water by enacting more stringent regulations and standards, will also contribute to gains. Growth will also be aided by increased demand for newer products, such as motor vehicle cabin air filters and many varieties of household air and water filters, and the development of a significant aftermarket within these segments. Filters in China, which was published in May 2008, is available for US$5100 from The Freedonia Group Inc.

For further information, visit www.freedoniagroup.com

Dividends • Donaldson Co Inc’s board of directors has declared a regular cash dividend of US$0.11 per share, payable on 13 June 2008, to shareholders of record on 30 May 2008. On 30 April 2008, there were approximately 77.9 million shares outstanding. This is the 211th consecutive quarterly cash dividend paid by Donaldson over 52 years. www.donaldson.com • Gamma Holding has paid a 2007 dividend of 2.00 per ordinary share and 0.21 per ordinary participating preference share. www.gammaholding.com • Crane Co’s regular quarterly dividend of US$0.18 per share for the second quarter of 2008 is payable on 10 June 2008 to shareholders of record on 30 May 2008. www.craneco.com • Cummins Inc will pay a quarterly common stock cash dividend of US$0.125 per share on 2 June 2008 to shareholders of record on 23 May 2008. www.cummins.com • The Parker Hannifin Corp board has declared a regular quarterly cash dividend of US$0.21 per share of common stock to shareholders of record as of 15 May 2008. The dividend is payable on 6 June 2008. This is Parker’s 232nd consecutive quarterly dividend and comprises a distribution of approximately US$35 million. Parker has increased its annual dividends paid to shareholders for 52 consecutive years. www.phstock.com • 3M’s dividend on the company’s common stock of US$0.50 per share for the second quarter of 2008, is payable on 12 June 2008, to shareholders of record on 23 May 2008. This cash dividend is the 367th consecutive quarterly dividend paid by 3M. As of 31 March 2008, 3M had almost 704.3 million common shares outstanding and 121 209 shareholders of record. www.3M.com • The board of ITT Corp declared a cash dividend of US$0.175 per share for the second quarter of 2008, an increase of 25% compared with the second quarter of last year. This cash dividend will be payable on 1 July 2008 to shareholders of record on 23 May 2008. www.itt.com

June 2008