Flowserve Corporation (NYSE: FLS), a leading provider of flow control
products and services for the global infrastructure markets, has been
honored by Frost & Sullivan with its 2009 European Pump Services
Customer Service Leadership of the Year Award.
The award was presented to Flowserve at the Frost & Sullivan sponsored
Excellence in Best Practices Awards Banquet held in London September 24,
2009. Accepting the award on behalf of Flowserve was Graham Bradbury,
Director of Operations, Industrial Pump Group. In April of this year
Frost & Sullivan recognized Flowserve with its Best Practices Award as
the 2009 Global Centrifugal Pump Growth Excellence Company of the Year.
Frost & Sullivan research analyst Syed Tauseef Ahmed explained that the
annual award for Customer Service Leadership is earned by the company
that has best demonstrated excellence in customer service leadership
within the pump industry. According to Frost & Sullivan, it is achieved
by a company that has shown extraordinary responsiveness to customer
needs and has continually focused on long- and short-term customer
profitability goals. Additionally, the recipient company would have
demonstrated flexibility in tailoring its services and offerings to best
suit customers’ business, to meet the award requirements.
Ahmed said, "Over the past five years, Flowserve has applied a mix of
strategy elements to address all the service needs, with particular
focus on building the geographical presence and direct representation it
now has, and expanding the portfolio of serviced products and brands.
Its value proposition lies in being a one-stop shop for services from
initial design and engineering, to production, installation, maintenance
and repair. Flowserve is truly a partner who understands customer goals
and is accountable for helping customers reach them.”
"Receipt of this prestigious award is further evidence that our global
associates understand the customer is truly at the center of everything
we do,” said Tom Ferguson, Senior Vice President and President Flowserve
Pump Division. "Customers rely on Flowserve to help them maximize the
effectiveness of their operations – through increased uptime, reduced
operating costs and proactive asset management. I’m proud that our
skilled associates consistently deliver timely, effective solutions to
meet these needs.”
About Flowserve Corp.
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 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,” "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; risks associated with cost overruns on
fixed-fee projects and in taking customer orders for large complex
custom engineered products requiring sophisticated program management
skills and technical expertise for completion; the substantial
dependence of our sales on the success of the petroleum, chemical, power
and water industries; the adverse impact of volatile raw materials
prices on our products and operating margins; 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 petroleum producers, and
non-compliance with U.S. export/re-export control, foreign corrupt
practice laws, economic sanctions and import laws and regulations; 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; risks associated with
certain of our foreign subsidiaries conducting business operations and
sales in certain countries that have been 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, and tax liabilities that could result
from audits of our tax returns by regulatory authorities in various tax
jurisdictions; the potential adverse impact of an impairment in the
carrying value of goodwill or other intangibles; our dependence upon
third-party suppliers whose failure to perform timely could adversely
affect our business operations; our dependence on our customers’ ability
to make required capital investment and maintenance expenditures; 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.