Flowserve Acquires CALDER AG, a Leading Supplier of Critical Proprietary Technology and Equipment for the Growing Global Desalination Market

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced it acquired privately owned CALDER AG, a Swiss Company, to expand the products and advanced technologies it offers to the growing global desalination markets. Terms of the transaction were not disclosed.

CALDER AG specializes in the design, engineering and supply of energy-recovery equipment and related proprietary technologies for the reverse osmosis process used in desalination plants around the world. Energy-recovery equipment is critical technology within reverse osmosis that captures and reuses waste energy, which significantly lowers net energy consumption in the desalination process.

"Global water desalination needs are growing very rapidly due to the demands of continued population growth and urbanization around the globe,” said Lewis Kling, Flowserve President and Chief Executive Officer. "The acquisition of CALDER AG allows Flowserve to deliver a complete integrated desalination flow control solution to our global customers and provides us with expanded access to the robust growth opportunities within the global desalination market.”

Market research reports from analysts covering the water industry project that worldwide desalination capacity will more than double within the next decade, with the reverse osmosis methodology expected to be utilized for a majority of these new plant developments.

Based in Egliswil, Switzerland, the CALDER product line includes Pelton Turbines and Dweer Recovery Devices. CALDER AG generated about $23 million in revenue in 2008.

"Energy consumption is generally the biggest cost driver of desalination and CALDER products are designed to provide a more energy efficient solution to our customers,” said Tom Ferguson, Flowserve Pump Division President. "Simply put, CALDER products will add a key 'green' technology to the Flowserve desalination product line.”

Responsible for many of the major advancements in water-handling technology and systems, the Flowserve Pump Division has supplied high-corrosion resistant, energy-efficient systems in both the thermal and reverse osmosis desalination processes for over a half a century.

"We believe that we have an outstanding platform to aggressively grow the CALDER business through our extensive global marketing and sales network,” said Ferguson. "This should provide the added benefit of opening up opportunities to pull through additional pump and related services business as part of the CALDER systems product offerings,” he added.

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.

About CALDER AG

CALDER AG is a world leader in the manufacture and supply of the most-efficient Energy Recovery Devices for the Reverse Osmosis process. In keeping with the finest traditions of Swiss engineering, CALDER delivers high-quality energy-recovery devices engineered with the latest corrosion resistant materials designed to give reliable continuous operation under arduous conditions. Privately owned, CALDER (www.calder.ch) is based in Egliswil, Switzerland and was established in 1981.

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