Exhibit 99.2

James W. Griffith President & CEO

Fuel Efficient Solutions

Maintenance Solutions

Keys to Competitiveness Customer-driven innovation A focus on performance An adaptive management capability

Company at Glance $3.8 billion 2003 sales

Integration Cost Savings $28 million saved to date $80 million target

2003 Achievements $174 million in new products

2003 Achievements Market expansion in China

2003 Achievements Advanced Green Components joint venture

2003 Achievements 40% debt-to-capital ratio

2002 2003 Net Sales 2550 3788 2003 Results 2002 2003 EPS 0.87 0.67

'03 Challenges '04 Opportunities Automotive manufacturing profitability Productivity improving 4th quarter

'03 Challenges '04 Opportunities Continued sluggish Industrial markets Industrial market recovery and global growth opportunities

'03 Challenges '04 Opportunities Steel raw material cost increases New surcharges and price increases

First Quarter 2004

Keys to Competitiveness Customer-driven innovation A focus on performance An adaptive management capability