Flowserve

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Flowserve Corporation
Type	Public (NYSE: FLS)
Founded	1997
Headquarters	Irving, Texas, USA
Key people	Lewis M. Kling, President and CEO Andrew J. Beall, Vice President; President, Flow Solutions Division Thomas L. Pajonas, Vice President; President, Flow Control Division Thomas E. Ferguson, Vice President; President, Flowserve Pump Division Ronald F. Shuff, Senior Vice President, Secretary and General Counsel
Industry	Diversified Machinery
Products	Actuators Ball valves Butterfly valves Control valves Plug valves Mechanical seals Pumps
Revenue	▲$3,762 million USD (2007)
Net income	▲$255 million USD (2007)
Employees	~14,000 (2006)
Website	www.flowserve.com

The Flowserve Corporation (NYSE: FLS) is a global supplier of pumps, valves, seals, automation, and services to the power, oil, gas, chemical and other industries. The Flowserve brand named originated in 1997 with a merger of BW/IP and Durco International. They have around 14,000 employees in more than 56 countries. Flowserve's headquarters is located in the Las Colinas area of Irving, Texas, which is a suburb of Dallas, Texas.

In July 2005, Flowserve underwent a leadership change. The board of directors announced Lewis M. Kling, COO at the time, as the new president, CEO, and a member of the board of directors. On May 30, 2007 Kling's employment agreement was extended until February 28, 2010. ^[1]

On August 21, 2007, Flowserve Corporation was recognized by CIO Magazine as one of the 2007 CIO 100 Award Honorees.^[2]

Contents 1 History 1.1 Flowserve Heritage Brands 1.2 Flowserve acquisitions 2 Timeline 3 Industries served 4 Educational services 5 Hurricane Katrina relief 6 Corporate governance 7 References 8 External links

[edit] History

Flowserve was created in 1997 with the merger of two fluid motion and control companies – BW/IP and Durco International. Flowserve heritage dates back to the 1872 founding of Byron Jackson, one of the companies that became part of BW/IP.

[edit] Flowserve Heritage Brands

Flowserve is comprised of over 48 fluid motion and control products. They are in alphabetical order: ACEC Centrifugal, Accord, Aldrich, Anchor Darling, Argus, Atomac, Automax, BW Seals, Byron Jackson, Cameron, DuraClear, Durametallic, Durco, Edward, Five Star Seals, Flowserve, Gestra, IDP, Interseal, Jeumont-Schneider, Kammer, Limitorque, Logix, McCANNA/MARPAC, NAF, NAVAL, Noble Alloy, Norbro, Nordstrom, PMV, Pac-Seal, Pacific, Pacific Wietz, Pleuger, Polyvalve, Schmidt Armaturen, Scienco, Serck Audco, Sier-Bath Rotary, TKL, United Centrifugal, Valtek, Valtek EMA, Vogt, Western Land Roller, Wilson-Snyder, Worcester Controls, Worthington.

[edit] Flowserve acquisitions

Flowserve has grown through mergers and acquisitions.

• Acquisitions under Flowserve Corporation
  • 1997 - Merger of BW/IP and Durco International (Formation of brand name Flowserve)
  • 1997 - Stork Engineered Pumps
  • 2000 - Ingersoll-Dresser Pumps (IDP)
  • 2000 - Invatec
  • 2000 - Ecoon
  • 2002 - Invensys Flow Control
  • 2004 - Thompsons Kelly & Lewis (TKL)
  • 2005 - Interseal
  • 2006 - HydroTechnik

[edit] Timeline

• June 2006, Flowserve signed a joint venture to build middle east's largest pump repair-manufacture-test-training facility in Saudi Arabia.^[3]

• June 2006, Flowserve acquired HydroTechnik Olomouc, s.r.o., a privately held mechanical seal manufacturer based in Olomouc, Czech Republic.^[4]

• June 2006, Flowserve filed its 2005 Form 10-K annual report with the SEC and announced financial results for 2005.^[5]

• July 2006, Flowserve launched the Guardian 3000. It is Flowserve's smallest pump as well as their first electronics cooling pump. The pump is designed to cool computer processors and graphics chips in high-end consumer personal computers. ^[6]

• August 2006, Flowserve Announces Opening of Suzhou, China, Manufacturing Facility. The state-of-the-art facility will support the company's existing China operations in Beijing, Shanghai, Dalian and Shenzhen by providing pumps, valves, seals and services to the oil and gas, power, chemical processing and water sectors as well as other industries.

^[7]

[edit] Industries served

• Oil & Gas
  • Production, Refining, Pipeline, Gas Processing
• Power Generation
  • Nuclear Power, Combine Cycle, Conventional Boiler
• Chemical Processing
  • Acid Transfer, Caustic and Chlor-Alkali, Pharmaceuticals, Polymers, Slurry Processing, Solvents, Volatile Organic Compounds, Waste Processing, Auxiliary
• Water Resources
  • Water Supply and Distribution, Water Treatment, Desalination, Flood Control, Ground Water Development and Irrigation, Wastewater Collection and Treatment, Snowmaking
• General Industry
  • Mining, Primary Metals, Pulp and Paper

[edit] Educational services

Flowserve has 5 training centers for students around the world to attend. They are in Irving, TX, Kalamazoo, MI, Houston, TX, Baton Rouge, LA, and Essen, Germany. The Learning Resource Center (LRC) in Irving is 24,000 square feet with classrooms, static labs, and power labs with complete pumping systems.

The LRC in Germany is the most recent, opening on December 5, 2006.^[8]

[edit] Hurricane Katrina relief

To support the Hurricane Katrina disaster relief, Flowserve donated $50,000 and matched up to $50,000 in employee donations to the Red Cross according to a CNN article.^[9]

[edit] Corporate governance

Current members of the board of directors of Flowserve are: Kevin E. Sheehan, Christopher A. Bartlett (DBA), Hugh K. Coble, Roger L. Fix, Diane C. Harris, George T. Haymaker Jr., Michael F. Johnston, Lewis M. Kling, Charles M. Rampacek, James O. Rollans and William C. Rusnack.

[edit] References

[edit] External links

• Official site.