Press Release Details

New Imo® TX2020 rotary positive displacement three-screw concept pump can manage own performance, order own replacement parts

RICHMOND, VA - Oct. 23, 2008 - Colfax Corporation (NYSE: CFX), a global leader in fluid-handling solutions, has announced the development of an intelligent concept pump with the ability to monitor its performance, adjust to changing conditions and order its own replacement parts - all without human supervision. The company unveiled the Imo® TX2020 concept pump at the Shipbuilding, Machinery & Marine (SMM) International Trade Fair in Hamburg, Germany, in September.

"This is a significant advance in rotary positive displacement three-screw pump technology," said Benny Strom, general manager of Colfax's Imo AB business, "assuring continual, precision pumping performance for applications in which minimizing downtime and maximizing pump life is critical." While Colfax highlighted marine applications at SMM, the TX2020 concept pump also holds much promise for remote pipeline locations or power plants and other facilities that need to operate at high capacity, Strom added.

Developed at the Colfax facility in Stockholm, Sweden, where the rotary positive displacement three-screw pump was invented, the TX2020 concept pump continually monitors flow rate, pressure, liquid viscosity (thickness) and energy consumption. If it determines adjustment is necessary to maintain flow, it can change speed or heat the liquid, to lower its viscosity.

The concept pump was designed for a variety of configurations; for example, it can operate by itself at a remote pumping location or be connected to a network of pumps managed at a central office.

Imo TX2020 concept pump software includes a preventive maintenance calendar and - based on foreseen needs or detected problems - the ability to determine which parts need replacement and issue a purchase order for them. For marine applications the TX2020 concept pump can even provide a preprogrammed list of the service stations closest to the vessel, with full coordinates and contact details. The software also maintains precise records, in the form of an electronic log book operators can use to track performance trends over time.

According to Karl-Johan Brink, director of sales and marketing for Imo AB, Imo is currently speaking with customers, owners and module builders about the Imo TX2020 concept pump. "We're incorporating the voice of the customer," he noted, "channeling feedback and input into further development of the concept pump for sale and production.

ABOUT COLFAX CORPORATION - Colfax Corporation is a global leader in critical fluid-handling solutions, including the manufacture of positive displacement industrial pumps and valves used in global oil & gas, power generation, marine, naval and a variety of other industrial applications. Key product brands include, Allweiler, Fairmount Automation, Houttuin, Imo, LSC, Portland Valve, Tushaco, Warren and Zenith. Colfax is traded on the NYSE under the ticker "CFX." Additional information about Colfax's products, businesses and practices is available at www.colfaxcorp.com.

ABOUT IMO AB - Imo AB is a Colfax business, focused on the development and manufacture of rotary positive displacement 3-screw pumps for the marine, global defense, pulp and paper, tooling machinery, power generation and offshore industries. Headquartered in Stockholm, Sweden with 90 employees, Imo AB was founded in 1931 by Carl Montelius, inventor of the three spindle pump, and Swedish entrepreneur, Bengt Ingestrom.

CAUTIONARY NOTE CONCERNING FORWARD LOOKING STATEMENTS:
This press release may contain forward-looking statements, including forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements concerning Colfax's plans, objectives, expectations and intentions and other statements that are not historical or current facts. Forward-looking statements are based on Colfax's current expectations and involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such forward-looking statements. Factors that could cause Colfax's results to differ materially from current expectations include, but are not limited to factors detailed in Colfax's Registration Statement on Form S-1 under the caption "Risk Factors" and other reports filed with the U.S. Securities and Exchange Commission. In addition, these statements are based on a number of assumptions that are subject to change. This press release speaks only as of this date. Colfax disclaims any duty to update the information herein.

MEDIA CONTACT:
Joe Niemann
(804) 327-5679
Joe.Niemann@colfaxcorp.com