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DALLAS, TX, Sept 26, 2014 - (ACN Newswire) - Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today it has received a major order to provide multiple pumping systems to Alstom, a France-based global leader in power generation. The orders, totaling approximately $30 million USD, were booked in the second quarter of 2014. The pumping systems will be used for boiler feedwater and condensate service at two units for a new ultra-supercritical (USC), coal-fired power plant in Opole, Poland.
The two units, each generating 900 megawatts, will be operated by Polska Grupa Energetyczna (PGE), the largest power-producing company in Poland. This USC coal-fired power plant will be the largest coal-fueled facility in Poland upon its anticipated completion in 2019. The pumping systems servicing the two units include type CHTA main feedwater pumps, which are double casing, multistage barrel pumps; and type HDX booster pumps, which are single-stage, radially split, double-suction pumps. These pumps are built specifically to withstand ultra-high temperatures and pressures, making them ideal for safe and reliable operation at USCs. Flowserve will also supply APKD condensate pumps, which are canned vertical pumps.
"With industrial growth in Poland on the rise, it is increasingly critical to meet the country's need for power supply through safe and efficient operations," said Jim Quain, president, Flowserve Sales Organization. "We are proud to partner with Alstom, one of the largest international power suppliers, and PGE to support their joint commitment to installing advanced USC technology. This technology is the most efficient coal power plant design available today, reducing environmental impact and meeting regulatory requirements."
In addition to the main feedwater and booster pumps, the Flowserve systems will include electric motors, variable speed hydro-couplings, support systems and required instrumentation. Flowserve will also supervise the installation and startup of the equipment.
Flowserve is a manufacturer of pumps, seals and valves for the power industry and supports the equipment with a global network of more than 170 Quick Response Centers. Most of the equipment for this order will be manufactured and assembled at the Flowserve facility in Coslada, Spain.
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 Contacts:
Lars Rosene, Vice President, Global Communications and Public Affairs, +1-972-443-6644
Amy Allen, Manager, Global Communications and Public Affairs, +1-972-443-6501
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.
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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: Press release summary
Source: Flowserve Corporation
http://www.acnnewswire.com
From the Asia Corporate News Network
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