Flowserve

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Flowserve Corporation
Revenue
  • Increase US$3.945 billion (2019)
  • Increase US$3.833 billion (2018)
  • Increase US$760.28 million (2013)[1]
  • Increase US$675.78 million (2012)[1]
[2]
  • Increase US$485.53 million (2013)[1]
  • Increase US$448.34 million (2012)[1]
Total assets
  • Increase US$7.8 billion (2015)[3]
  • Increase US$ 4.8 billion (2012)[1]
Total equity
  • Decrease US$1.88 billion (2013)[3]
  • Decrease US$1.89 billion (2012)[1]
Number of employees
17,000[4] (2017)
Websiteflowserve.com

The Flowserve Corporation is an American

Durco International
.

On August 21, 2007, Flowserve Corporation was recognized by

CIO magazine as one of the 2007 CIO 100 Award Honorees.[7]

History

Flowserve's heritage dates back to the 1790 founding of Simpson & Thompson by

Durco International
.

Acquisitions include

Maraimalainagar, Tamil Nadu. In 2015 Flowserve acquired SIHI
.

Products

Flowserve comprises 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, Calder, DuraClear, Durametallic, Durco, Edward, Five Star Seals, Flowserve, IDP, Innomag, 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, SIHI (Siemen & Hinsch), TKL, United Centrifugal, Valtek, Valtek EMA, Vogt, Western Land Roller, Wilson-Snyder, Worcester Controls, Worthington

Acquisitions

Flowserve has grown through mergers and acquisitions.

Acquisitions under Flowserve Corporation

Industries served

  • pipeline
    , gas processing
  • Power generation:
    water energy
  • 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:
    pulp and paper

Corporate governance

In July 2005, Flowserve announced a change of senior leadership. The board of directors appointed Lewis M. Kling, then Chief Operating Officer, as the new president, CEO, and member of the board of directors. On May 30, 2007 Kling's employment agreement was extended until February 28, 2010, when he retired.[26]

vice chairman of the board.[27]

Blinn subsequently also retired and was succeeded by R. Scott Rowe as President and Chief Executive Officer in April 2017.

The members of the Flowserve board of directors is available at https://ir.flowserve.com/corporate-governance/board-of-directors:[28]

Educational services

Flowserve has five training centers, catering for students from around the world, in

Baton Rouge, Louisiana; and Desio, Italy. The learning resource center in Irving occupies 24,000 square feet (2,200 m2) with classrooms, static labs, and power labs with complete pumping systems.[29] The LRC in Italy is the most recent, opening on April 20, 2010.[30]

Environmental efforts

To support the

Red Cross.[31]

Restatements

On Feb 3, 2004, Flowserve announced restatement of its financial statements for aggregate estimated pretax adjustments for 2003. The restatement was approximately $11 million.[32]

On Oct 26, 2004, Flowserve determined to restate its previously announced financial results for the second quarter of 2004, including certain post-closing adjustments and recently identified out-of-period expenses. The restatement had no impact on net cash balance.[33]

On Feb 7, 2005, Flowserve confirmed that it would restate its 2000 through first quarter 2004 financial statements, resulting from an ongoing comprehensive review of the company's accounts. The restatement reduced net income for the periods restated.[34]

See also

References

  1. ^ a b c d e f "FLOWSERVE CORP 2013 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. February 18, 2014.
  2. ^ "Flowserve Corp 2011 Annual Report - Form 10-K - February 22, 2012". secdatabase.com. Retrieved 2012-05-16.
  3. ^ a b "FLOWSERVE CORP 2014 Q1 Quarterly Report Form (10-Q)" (XBRL). United States Securities and Exchange Commission. April 23, 2014.
  4. ^ "Flowserve". Fortune. Archived from the original on 2019-05-25. Retrieved 2019-02-05.
  5. ISBN 978-1-85617-487-9
    . Retrieved 26 October 2012.
  6. ^ "About Company | About Flowserve | Flowserve". www.flowserve.com. Retrieved 2018-04-10.
  7. ^ 2007 Winner Profile Flowserve Corporation, CIO Magazine, 21 August 2007. (Archived June 2, 2013, at the Wayback Machine)
  8. ISBN 978-0-7277-3411-2
    . Retrieved 26 October 2012.
  9. ^ "Flowserve.com". Archived from the original on 2010-02-12. Retrieved 2010-07-16.
  10. ^ "MF Flowserve.com". Archived from the original on 2011-01-07. Retrieved 2010-07-16.
  11. ^ "Flowserve.com". Archived from the original on 2010-12-27. Retrieved 2010-07-16.
  12. ^ "Flowserve.com". Archived from the original on 2010-12-27. Retrieved 2010-07-16.
  13. ^ Brown, Alan S. (2000-01-12). "Flowserve Restructures, Acquires Innovative Valve Technologies". Pharmaceutical Online. Retrieved 2017-08-23.
  14. ^ "Flowserve to acquire Invensys' Flow Control Division". www.mdm.com. 2002-03-25. Retrieved 2017-08-23.[permanent dead link]
  15. ^ Moore, Robert (2015-12-29). "Kelly & Lewis: an Australian pumping legend". pumpindustry. Retrieved 2017-08-23.
  16. ^ "Flowserve acquires rest of Thompsons, Kelly & Lewis". Control Engineering. 2004-03-09. Retrieved 2017-08-23.
  17. ^ "Flowserve to acquire Interseal assets of Australian company". www.waterworld.com. 2005-03-22. Retrieved 2017-08-23.
  18. ^ "Flowserve Acquires HydroTechnik Olomouc". Rigzone. 2006-06-20. Retrieved 2017-08-23.
  19. ^ "Flowserve buys UK´s MF Sealing". utech-polyurethane.com. 2007-07-24. Retrieved 2017-08-23.
  20. ^ "Calder bought by Flowserve". Water, Desalination + Reuse. 2009-04-21. Retrieved 2017-08-23.
  21. ^ "Flowserve buys Italian valve manufacturer Valbart". www.worldpumps.com. 2010-07-16. Archived from the original on 2017-08-23. Retrieved 2017-08-23.
  22. NewsOK
    . 2011-10-04. Retrieved 2017-08-23.
  23. ^ "L&T completes acquisition of Audco India Limited - Valve World". www.valve-world.net. Archived from the original on 2020-06-26. Retrieved 2020-06-24.
  24. ^ "Flowserve Acquires Innovative Mag-Drive, LLC". finance.yahoo.com. Retrieved 2020-06-24.
  25. ^ "Flowserve Completes the Acquisition of SIHI Group | ARC Advisory Group". www.arcweb.com. Retrieved 2020-06-24.
  26. ^ "Flowserve extends CEO's employment agreement until 2010". Archived from the original on 2013-07-02. Retrieved 2012-10-26.
  27. ^ "Flowserve.com". Archived from the original on 2010-01-04. Retrieved 2019-04-23.
  28. ^ "Flowserve - Investors - Board of Directors". ir.flowserve.com. Archived from the original on 2018-06-28. Retrieved 2018-04-10.
  29. ^ "Flowserve in Russia". Retrieved 2014-10-04.
  30. ^ "Flowserve Opens New State-of-the-Art Learning Resource Center in Desio, Italy". Archived from the original on 2016-03-05. Retrieved 2012-10-26.
  31. ^ Major companies -- including Home Depot and Ford -- pledge millions to hurricane relief efforts.
  32. ^ "Flowserve Announced Restatement for 2003".
  33. ^ "Flowserve Announces Filing Delays".
  34. ^ "Flowserve Confirms Financial Restatement".

External links

  • Official site
  • Business data for Flowserve:
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