Item 7.01 Regulation FD Disclosure.
Through December 31, 2008, the Company's organizational structure consisted
of five operating divisions: Compressor, Blower, Engineered Products, Thomas
Products and Fluid Transfer. These divisions comprised two reportable segments:
Compressor and Vacuum Products and Fluid Transfer Products. The Compressor,
Blower, Engineered Products and Thomas Products divisions were aggregated into
the Compressor and Vacuum Products segment.
Effective January 1, 2009, the Company reorganized its five former operating
divisions into two major product groups: the Industrial Products Group and the
Engineered Products Group. The Industrial Products Group includes the former
Compressor and Blower Divisions, plus the multistage centrifugal blower
operations formerly managed in the Engineered Products Division. The Engineered
Products Group is comprised of the former Engineered Products (excluding the
multistage centrifugal blower operations), Thomas Products and Fluid Transfer
Divisions. These changes were designed to streamline operations, improve
organizational efficiencies and create greater focus on customer needs.
In accordance with these organizational changes, the Company realigned its
segment reporting structure with the newly formed product groups effective with
the reporting period ending March 31, 2009. The Industrial Products Group and
Engineered Products Group comprise the Company's two reportable segments in
accordance with Statement of Financial Accounting Standards No. 131,
"Disclosures about Segments of an Enterprise and Related Information."
To assist investors in comparing the Company's historical segment financial
information with its future segment financial information, unaudited selected
segment financial information for each of the four quarters of the year ended
December 31, 2008 and the years ended December 31, 2008, 2007 and 2006 has been
recast to reflect this realignment and furnished with this report as Exhibit
99.1 and incorporated by reference herein.
The information in this Item 7.01 and the exhibit attached hereto will not be
deemed to be "filed" for the purposes of Section 18 of the Securities Exchange
Act of 1934 (the "Exchange Act"), or otherwise subject to the liabilities of
such section, nor will such information or exhibit be deemed incorporated by
reference in any filing under the Securities Act of 1933 or the Exchange Act,
except as may be expressly set forth by specific reference in such filing.