First acquisition is completed: Enertech a major supplier of valves, actuators, pumps, motors, snubbers, instrumentation, diagnostic and test equipment, service and repair, and engineering services to the nuclear power industry.

Farris Engineering and Sprague are acquired. Farris is a world leader in the design and production of a wide range of spring-loaded and pilot-operated pressure relief valves. They are used as safety devices to prevent over-pressurization of vessels, pipelines, and equipment. Sprague Products provides a variety of air-operated, high pressure pumps and boosters and pneumatic and hydraulic valves.

Curtiss-Wright Flow Control and KPS of Korea launch a joint venture forming the CWFC Korea business unit. EMD (Electro-Mechanical Division) is acquired. It manufactures and designs the most advanced pumps, motors, generators, propulsors, mechanical seals, control rod drive mechanisms and power conditioning electronics available to the U.S. Navy, commercial nuclear power markets and Process industries. Also this same year, APSD is acquired. The company designs and manufactures highly engineered, critical function electro-mechanical solutions for the U.S. Navy, commercial nuclear power utilities, petrochemical, and hazardous waste industries. Finally, Tapco International is purchased to expand presence in the petrochemical/refinery industry with its metal seated industrial gate valves, butterfly valves, flapper valves,

Farris Engineering Services begins to be developed (from Imes Engineering acquisition). It offers integrated solutions for all phases of process safety management compliance programs, including iPRSM® for Process Safety Management Software for oil and gas as well as all other processing industries.

Engineered Pump Division is purchased to provide technologically advanced, highly engineered pumping solutions to the U.S. Navy, U.S. Coast Guard, Military Sealift Command, commercial marine, and foreign military programs. Three other acquisitions that same year include Nova Machine Products, Trentec and GROQUIP. Nova Machine Products is a major supplier of nuclear quality and bolting solutions to nuclear power plants, the Department of Energy, Original Equipment Manufacturers (OEMs) and Accessory and Equipment (A&E) firms that support the nuclear power industry. TRENTEC is an internationally recognized leader in nuclear facility replacement parts, diamond wire concrete cutting services, airlocks, hatches and specialty doors, electrical control systems and custom fabrication. They are the leading providers of equipment qualification and dedication services, operating the leading seismic lab in the nation with a one-of-a-kind-tri-axial shaker table. GROQUIP is the only single source provider of pressure process solutions for the petrochemical, Process processing, power, paper, food/beverage

The HydaNut™ Technology bolting solution and its proprietary technologies are acquired and become part of the Nova Machine Products product line. This advanced bolding technology offers superior joint integrity in critical high temperature applications while reducing outage time and personnel radiation exposure time.

Four months after the acquisition of Enpro Systems, it merges with TAPCO International (acquired in 2002) to become TapcoEnpro International. The merger expands the company's presence in the global oil and gas industry. It provides high performance, severe service metal seated industrial gate valves, butterfly valves, flapper valves, actuators, and internal components. Later in the year SWANtech, an advanced technology company that manufacturers patented machine condition monitoring based on ultrasonic "stress wave" measurement, was acquired.