Flowserve sells valves arm
30 Apr 2014
Pump equipment firm sells its ball-valve product business to Finnish valve manufacturer.
Pumps and valves manufacturer Flowserve has announced the sale of its Naval OY business, including its all-welded ball valve product line, to Finnish valve manufacturer Vexve OY.
The sale includes Naval OY’s manufacturing facility located in Laitila, Finland and a service and support centre located in St. Petersburg, Russia.
“In our continuing effort to optimise our product portfolios and build long-term shareholder value, we made the decision to divest the Naval product line,” said Tom Pajonas, Flowserve chief operating officer.
This divestiture is consistent with our organic and inorganic investment strategy
Flowserve CEO Tom Pajonas
“While Naval’s products and employees are of the highest quality, the niche market it serves is highly cyclical and does not provide the leverage we desire for our other product lines. This divestiture is consistent with our organic and inorganic investment strategy, and as such, serves both Flowserve and Vexve well.”
Flowserve obtained Naval in 2002 as part of the acquisition of Invensys Flow Control.
Products in the Naval portfolio include all-welded ball valves primarily used in district heating applications in Western Europe and Russia.
Meanwhile, Flowserve announced it has received orders to provide vital pumping systems for the Lichterfelde cogeneration power plant in Germany.
The 300-megawatt (MW) cogeneration power plant replaces an old coal plant – using natural gas as its fuel source.
The plant will have an efficiency level at almost double that of a comparable coal fired plant, resulting in significantly reduced emission levels.
The Flowserve pumping system at the heart of the plant uses heavy-duty, radially split, multistage between bearings pumps for boiler feed service (BFP) and canned vertical turbine pumps for condensate extraction (CEP).
In addition, Flowserve will also provide the pumps for the district heating process.
“Flowserve’s extensive experience and history of supplying equipment for cogeneration and combined cycle power plant projects of this magnitude were crucial factors in winning these orders,” said the president of Flowserve Sales Organisation Jim Quain.
