) recently received a contract to supply tailor-made water
injection and liquid transfer pumps to Sabah Shell Petroleum
Company's Malikai oilfield project. This project is based 110
kilometers (68 miles) off the coast of Sabah, Malaysia. This
apart, Flowserve will also provide pumps for seawater lift,
firewater, drain caisson, flare knockout drum, circulation and
sump services. The financial details of the deal were not
disclosed but the company has booked the order in 2013.
This contract will be included in the Flow Control Division
(FCD) of the company. The flow control products are primarily
used by companies operating in the chemical, power generation,
oil and gas, water management and general industries.
The scope of the order requires Flowserve to provide four
highly engineered, variable speed drive barrel pumps of super
duplex stainless steel construction. Further, two WIK (BB5)
multistage double case diffuser pumps will supply high-pressure
deoxygenated water for well injection and a pair of HSO (BB5)
multistage, double case volute pumps will enable transportation
of the crude from the field to the KBB processing
All the Flowserve pumps will be fixed with Flowserve seals and
sealing systems to ensure complete reliability and integrity of
the pumping systems.
In the fourth quarter, this segment's reported revenues were
$1,615.7 million, up 3.8% year over year. Bookings for the
segment also increased 8.8% to $1661.9 million. In fiscal 2013,
the segment had a backlog of $769.6 million as of Dec 31, 2013,
compared with $723.9 million in fiscal 2012. The company expects
to ship 87% of 2013 backlog during 2014.
Flowserve is one of the world's leading providers of fluid
motion and control products and services. Currently, Flowserve
holds a Zacks Rank #3 (Hold). Better-ranked players in the same
Altra Holdings Inc.
), all three carrying a Zacks Rank # 2 (Buy).
ALTRA HOLDINGS (AIMC): Free Stock Analysis
DXP ENTERPRISES (DXPE): Free Stock Analysis
FLOWSERVE CORP (FLS): Free Stock Analysis
GRACO INC (GGG): Free Stock Analysis Report
To read this article on Zacks.com click here.