Flowserve signs Middle East joint venture

Flowserve Corp. has signed a joint venture agreement with S&A Abahsain Co.

Offshore staff

DALLAS -- Flowserve Corp. has signed a joint venture agreement with S&A Abahsain Co.

The joint venture, called Flowserve/Abahsain Flow Control Co., will begin initial manufacturing of valve products from a temporary facility in Al Khobar, Saudi Arabia. A new facility capable of manufacturing the full line of valve products is scheduled for construction in Dammam this year, and is expected to be operational by January 2010.

"Flowserve has existing pump and seal operations in Saudi Arabia," says Tom Pajonas, president of the Flowserve Flow Control Division. "By signing this agreement with Abahsain, we are increasing Flowserve's presence in the Kingdom by adding local valve and actuator manufacturing capabilities. This underscores our commitment to Saudization and to the needs of our customers in the Saudi Arabian market."

02/24/2009

More in Company News