Printer Friendly

IDEX CORP.'S VIKING PUMP BUSINESS UNIT EXPERIENCES WORK STOPPAGE; COMPANY SEES STABLE FIRST QUARTER AND RECORD YEAR

 NORTHBROOK, Ill., March 19 /PRNewswire/ -- IDEX Corp. (NYSE: IEX) reported that its Viking Pump Subsidiary and the International Association of Machinist (IAM), Local 1728, have been unable to reach agreement on a new contract following expiration of the collective bargaining agreement on Jan. 30, 1993. Since Jan. 30, employees represented by the IAM continued to work without a contract, but on March 18 the union initiated a work stoppage.
 The union represents approximately 300 production employees at the company's Viking Pump facility in Cedar Falls, Iowa. Viking Pump employs a total of approximately 700 people in the Cedar Falls area.
 IDEX management also reported that first quarter 1993 earnings per share were now expected to be in line with those of the immediately preceding quarter and the first quarter of the prior year. The company reaffirmed it expects rising earnings in the remaining quarters of 1993, and that it foresees new records in sales, net income and earnings per share for the full year.
 IDEX Corp. is a manufacturer of proprietary fluid handling and industrial products with leading positions in niche markets. Its engineered products are sold to a wide range of industries. IDEX shares are listed on the New York Stock Exchange under the symbol IEX.
 Receive the latest information about IDEX via FAX, no cost. 1-800-PRO-INFO, code 087.
 -0- 03/19/93
 /CONTACT: Wayne P. Sayatovic, vice president - finance of IDEX Corp., 708-498-7070; or Nick Farina or Lynne Franklin, 312-266-7800 (Chicago); or Lillian Armstrong, 415-986-1591 (San Francisco), all of the Financial Relations Board, for IDEX Corp./
 (IEX)


CO: IDEX Corp.; Viking Pump; International Association of Machinist ST: Illinois IN: SU:

AH -- NY012 -- 7809 03/19/93 10:06 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 19, 1993
Words:281
Previous Article:CIMARRON ACQUIRES INTEREST, WILL OPERATE CAMRICK PLANT
Next Article:/REPEATING FROM YESTERDAY/
Topics:


Related Articles
IDEX ENTERS PRELIMINARY AGREEMENT TO PURCHASE ASSETS OF THE DEVJO PUMP GROUP
IDEX REPORTS 2ND QUARTER NET INCOME BEFORE EXTRAORDINARY ITEM OF $4.9M, UP 28 PERCENT, AND EARNINGS PER SHARE OF 39 CENTS, UP 8 PERCENT
IDEX CORPORATION COMPLETES PURCHASE OF JOHNSON PUMP (UK) LTD.
IDEX CORP.'S VIKING PUMP BUSINESS UNIT RETURNS TO WORK
IDEX CORP. ANNOUNCES RECORD EARNINGS FOR THIRD QUARTER, NINE MONTHS
IDEX CORP. REPORTS 51 PERCENT RISE IN NET INCOME ON 17 PERCENT HIGHER SALES FOR FIRST QUARTER; RECORD YEAR EXPECTED IN 1994
IDEX CORP. REPORTS RECORD THREE- AND NINE-MONTH SALES AND PROFIT; NET INCOME UP 31 PERCENT FOR QUARTER
IDEX CORP. COMPLETES PURCHASE OF MICROPUMP CORP.
IDEX CORP. REPORTS RECORD THIRD QUARTER AND NINE MONTHS; RECORD YEAR EXPECTED
IDEX Corporation Names Windmuller President of Fluid Management and McMurray President of Viking Pump

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters