) recently announced that it has completed a series of
transactions in order to obtain full ownership of the Maraimalai
Nagar manufacturing facility in Chennai, India. The facility was
earlier jointly owned by Flowserve's wholly owned subsidiary
Audco India, Limited and Larsen & Turbo, Limited.
Recently, Larsen & Turbo acquired the entire stake in the
joint venture Audco India, Limited, primarily to expand its valve
business. Along with owning the Maraimalai Nagar manufacturing
facility, Flowserve will also retain the key Serck AUDCO brand
lubricated valve products and technology.
Flowserve believes that through this valve manufacturing
facility, it will be able to establish a strong foothold in India
by expanding into markets that were previously left untargeted.
Further, the valve manufacturing facility at Chennai, also
manufactures AUDCO SLIMSEAL butterfly valves and VOGT forged
gate, globe and check valve products.
Apart from the broadened access to the Indian market, this
transaction also provides the opportunity for long-term cost
savings for other valve products through low-cost sourcing of
engineering, planning and manufacturing.
Recently, Flowserve received an order to provide plug-and-ball
valve products in order to meet customer needs for extensive
mining applications. The $9 million order was awarded by a new
nickel ore processing facility based in Long Harbour,
Flowserve Corp. is one of the world's leading providers of
fluid motion and control products and services. Flowserve
currently holds a Zacks Rank #3 (Hold) while some other important
players in the same industry such as
Ingersoll Rand Plc
AECOM Technology Corporation
) both having a Zacks Rank #2 (Buy). Another company in the same
Altra Holdings, Inc
) has a Zacks #1 (Strong Buy).
AECOM TECH CORP (ACM): Free Stock Analysis
ALTRA HOLDINGS (AIMC): Free Stock Analysis
FLOWSERVE CORP (FLS): Free Stock Analysis
INGERSOLL RAND (IR): Free Stock Analysis
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