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DALLAS, TX, Apr 9, 2014 - (ACN Newswire) - Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced it received multiple orders for key pumping systems for the Lichterfelde Cogeneration Power Plant. The orders were booked in the first quarter of 2014. Located in Germany, the 300-megawatt (MW) plant replaces an old coal plant. Cogeneration power plants use natural gas as a fuel and have an efficiency level almost double that of a comparable coal fired plant, resulting in significantly reduced emission levels. The cogeneration facility utilizes the otherwise wasted heat energy for district heating.
The Flowserve pumping systems at the heart of this plant use heavy-duty, radially split, multistage between bearings pumps for boilerfeed service (BFP) and canned vertical turbine pumps for condensate extraction (CEP). In addition, Flowserve will also provide the pumps for the district heating process.
"Flowserve's extensive experience and history of supplying equipment for cogeneration and combined cycle power plant projects of this magnitude were crucial factors in winning these orders," said Jim Quain, president, Flowserve Sales Organization. "Also important was our ability to supply the entire project's pumping needs as well as our full line of services, including installation, start-up and lifetime maintenance."
The engineering and construction activity for the projects is being managed by Iberdrola, the distinguished Spanish engineering, procurement and construction (EPC) company.
Flowserve Contacts
Investor Contacts:
Jay Roueche, vice president, Investor Relations & Treasurer, +1-972-443-6560
Mike Mullin, director, Investor Relations, +1-972-443-6636
Media Contact:
Lars Rosene, vice president, Global Communications and Public Affairs, +1-972-443-6644
About ACWA Power International
ACWA Power International (ACWA Power) is a developer, investor, co-owner and operator of plants with a generation portfolio of 15,731 MW of power and 2.37 million m3/day of desalinated water with an investment value in excess of USD 23 billion and providing employment to more than 2,300 people.
The company, incorporated in the Kingdom of Saudi Arabia, with a paid-up capital of approx. USD 1.4 Billion is owned by eight Saudi conglomerates besides Sanabil Direct Investment Company (owned by the Public Investment Fund) and by the Saudi Public Pensions Agency. ACWA Power's core business is the delivery of electricity and desalinated water by operating assets in which the company has a meaningful level of investment to exercise operational control.
About Flowserve
Flowserve Corp. is one of the world's leading providers of fluid motion and control products and services. Operating in more than 50 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company's Web site at www.flowserve.com.
Safe Harbor Statement
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may," "should," "expects," "could," "intends," "plans," "anticipates," "estimates," "believes," "forecasts," "predicts" or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.
The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; changes in the global financial markets and the availability of capital and the potential for unexpected cancellations or delays of customer orders in our reported backlog; our dependence on our customers' ability to make required capital investment and maintenance expenditures; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products; the substantial dependence of our sales on the success of the oil and gas, chemical, power generation and water management industries; the adverse impact of volatile raw materials prices on our products and operating margins; our ability to execute and realize the expected financial benefits from our strategic realignment initiatives; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global oil and gas producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela; our furnishing of products and services to nuclear power plant facilities; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; a foreign government investigation regarding our participation in the United Nations Oil-for-Food Program; expectations regarding acquisitions and the integration of acquired businesses; our foreign subsidiaries autonomously conducting limited business operations and sales in certain countries identified by the U.S. State Department as state sponsors of terrorism; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits; the potential adverse impact of an impairment in the carrying value of goodwill or other intangible assets; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.
All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Flowserve Corporation via Globenewswire
Topic: Awards
Source: Flowserve Corporation
http://www.acnnewswire.com
From the Asia Corporate News Network
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