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GOULDS PUMPS RESPONDS TO EPA SUBMERSIBLE PUMP TESTING RECOMMENDATION

 SENECA FALLS, N.Y., April 19 /PRNewswire/ -- The following was issued by Goulds Pumps (NASDAQ-NMS: GULD):
 Over the past two days much has been written and broadcast about an EPA advisory issued to homeowners with submersible brass pumps. This advisory, which is based on laboratory studies, recommends that homeowners have their well water tested for lead content and that the use of bottled water should be considered while waiting for these results, especially for pumps that are less than one year old.
 Stephen V. Ardia, President and CEO, stated "As a Company, Goulds is concerned about the health, safety and well-being of our customers. Consequently, we are fully cooperating with officials in California, where a lawsuit has been filed against Goulds Pumps and three other manufacturers and we will fully cooperate with the EPA.
 "At this stage, it is important to remember that the EPA's statement does not indicate that submersible pumps have contributed lead to drinking water in violation of existing Federal standards, nor have any incidents of lead-related illnesses been attributed to submersible pumps. Further, the pumps' components have been a recognized standard for many years and we have no evidence that the test data from a laboratory replicates actual conditions in a well. The Goulds pump that was tested in the laboratory tests is no longer being manufactured. The revised design now contains lead-free silicon bronze.
 "Since we do not believe that the laboratory test data is conclusive, we are commissioning an extensive field study by independent, state certified laboratories approved by the EPA, of submersible pumps in wells throughout the United States. Upon completion of this study, we will make the results public.
 "Though we do not believe that the existing test data is conclusive, we are taking the precautionary steps of advising our dealers and distributors to hold all submersible pumps manufactured prior to the introduction of the lead-free units until we have test results verifying their suitability for installation. Installation can continue of those submersible pumps which contain a lead-free silicon bronze material. We have already started production of a brand new stainless steel product for introduction June 1, 1994.
 "We are currently developing an estimate of costs associated with these actions. Based on the information that we have now, we estimate that the potential costs of retrofitting existing pumps in our supply channel, testing, legal costs and customer communications are estimated at this time at approximately $5 million. This is based on the assumption that the field testing will not require pulling of pumps from existing wells.
 "The costs associated with the disruption of our sales channels will probably range from $5 - 10 million in sales though this may be partially offset by increased demand for our new stainless steel pumps to be introduced in June of this year."
 Ardia concluded, "We support the EPA recommendation for the testing of existing pumps installed less than one year ago by homeowners and are taking the previously outlined steps as a precaution for the welfare of our customers. These actions will not have any impact on our other business activities."
 -0- 4/19/94
 /CONTACT: Sean Murphy, Vice President and Chief Financial Officer, or Diana Kurty, Corporate Controller, both of Goulds Pumps, Inc., 315-568-2811/
 (GULD)


CO: Goulds Pumps Inc. ST: New York IN: ENV SU:

BM -- CL048 -- 7168 04/19/94 16:59 EDT
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Publication:PR Newswire
Date:Apr 19, 1994
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