|23 October, 2019

Flowserve signs agreements to provide equipment for two large reverse osmosis desalination projects

New plants will be located in Taweelah near Abu Dhabi (UAE) and Rabigh (Saudi Arabia)

DALLAS--(BUSINESS WIRE/AETOSWire)-- Flowserve Corporation, (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced that it recently signed agreements to provide the main pumps for two large sea water reverse osmosis (SWRO) desalination plants, Taweelah and Rabigh-3. Once completed, the Taweelah plant, located just outside of Abu Dhabi, United Arab Emirates (UAE), will be the largest SWRO project in the world and have the capacity to process 909,200 cubic meters of water per day (m3/day). The new Rabigh-3 facility will serve the Jeddah and Mecca areas in the Kingdom of Saudi Arabia and will have an initial capacity of 600,000 m3/day.

Flowserve will provide more than 135 pumps, including key products such as High Pressure (HP) pumps, HP and ERD boosters and second pass HP pumps to the Rabigh-3 and Taweelah projects. In close collaboration with the customer and other stakeholders, Flowserve has provided a pump solution that is well positioned to meet performance expectations throughout all services.

As a leading provider of desalination technologies and support services, Flowserve brings safe, cost-effective water to communities around the world. For more information on desalination solutions, go to https://www.flowserve.com/en/industries/water/desalination.

To help solve the biggest flow-control challenges, customers worldwide rely on Flowserve’s product lines, engineering, project management and service expertise. Flowserve has more than two centuries of deep experience as the go-to resource for solving the toughest challenges across all industries.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 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 website at www.flowserve.com.

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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 global economic conditions 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 manufacturing optimization and 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; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; 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 and other critical processes; 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 ability to anticipate and manage cybersecurity risk, including the risk of potential business disruptions or financial losses; 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.

-Ends-

*Source: AETOSWire

Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636

Media Contact:
Lars Rosene, Vice President, Corporate & Marketing Communications, (972) 443-6644

© Press Release 2019

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