IDEX CORPORATION FILES AMENDMENT TO REGISTRATION
STATEMENT OFFERING ADDITIONAL SECONDARY AND
PRIMARY SHARES
NORTHBROOK, Ill., Apr 10, 2002 --
IDEX Corporation (NYSE: IEX) today announced
that it has filed an amendment to its registration
statement on Form S-3, registration no. 333-84036,
originally filed with the Securities and Exchange
Commission on March 8, 2002. The registration
statement has been amended to include, in addition
to the secondary offering of 2,939,199 shares
of IDEX common stock owned by IDEX Associates,
L.P., the secondary offering of 560,801 shares
of IDEX common stock owned by KKR Associates,
L.P. and the primary offering by IDEX of 1,500,000
shares of IDEX common stock. In addition, the
registration statement covers an overallotment
option to be granted to underwriters by KKR
Associates of up to an additional 750,000 shares
owned by KKR Associates. Assuming the sale of
all such shares by KKR Associates, they will
continue to own 4,503,592 shares of IDEX common
stock after the offering. KKR Associates is
the general partner of IDEX Associates.
Merrill Lynch & Co. will serve as lead
underwriter for the offering, with Credit Suisse
First Boston serving as co-lead underwriter,
and Robert W. Baird & Co., Banc of America
Securities LLC, and Bear, Stearns & Co.
Inc. acting as co-managing underwriters. The
net proceeds to IDEX from the offering will
be used to repay indebtedness under its revolving
credit facility, thereby increasing the amount
available for borrowing under this facility,
which the company intends to use for general
corporate purposes, including the funding of
acquisitions and working capital.
A registration statement relating to these
securities has been filed with the Securities
and Exchange Commission, but has not yet become
effective. The securities may not be sold nor
may any offer to buy be accepted prior to the
time the registration statement becomes effective.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy,
nor shall there be any sale of these securities
in any state in which such offer, solicitation
or sale would be unlawful prior to registration
or qualification under the securities laws of
such state or jurisdiction.
Copies of the preliminary prospectus, when
available, may be obtained from Merrill Lynch
& Co.
About IDEX
IDEX Corporation is a manufacturer of proprietary
pumps and metering products, dispensing equipment,
and other engineered products. Its products
are sold to a wide range of industries throughout
the world. IDEX shares are traded on the New
York Stock Exchange and Chicago Stock Exchange
under the symbol "IEX."
Forward-Looking Statements
All comments relating to any
future period are forward-looking statements,
subject to uncertainties and risks that could
cause actual results to vary materially from
what is suggested here. These uncertainties
and risks include but are not limited to the
following: economic and political consequences
resulting from the September 11, 2001 terrorist
actions; levels of industrial activity and economic
conditions in the U.S. and other countries around
the world, pricing pressures and other competitive
factors, and levels of capital spending in certain
industries -- all of which could have a material
effect on order rates and the company's results,
particularly in light of the low levels of order
backlogs IDEX typically maintains; IDEX's ability
to integrate and operate acquired businesses
on a profitable basis; the relationship of the
U.S. dollar to other currencies, and its impact
on pricing and cost competitiveness; interest
rates; utilization of IDEX's capacity and the
affect of capacity utilization on costs; labor
market conditions; raw material costs; developments
with respect to contingencies, such as environmental
matters and litigation; and other risks detailed
from time to time in the company's filings with
the Securities and Exchange Commission. IDEX
does not undertake any obligation to update
any forward-looking statements.
For further information on IDEX Corporation
and its business units, visit the company's
Website at www.idexcorp.com.
Contacts:
Wayne P. Sayatovic,
Senior Vice President-Finance
IDEX Corporation
+1-847-498-7070
or
Lynne Franklin - General inquiries
+1-847-729-5716
Bill Schmidle - Analysts
+1-312-640-6753
Al Orendorff - Media
+1-312-640-6775
all of FRB Weber Shandwick Worldwide
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