Flowserve Wins Pump Orders to Support Petrobras' Plangas Initiative

Flowserve Corp.

Flowserve announced its Brazilian subsidiary has received several related orders worth a total $18.4 million (USD) from Brazil's Petrobras, the seventh largest oil company in the world.

These orders combined represent the largest single job Flowserve has received in Brazil, and were booked in previous quarters.

Flowserve received orders for vertical wet pit and vertical canned pumps, which will be used to load petroleum onto bulk stations and terminals at two ports in the Brazilian cities of Rio de Janeiro and Vitoria.

The orders support Petrobras' Plangas initiative, which is the company's plan to increase Brazilian gas production capability by three to five percent by 2010.

"Petrobras and Flowserve have enjoyed a very strong relationship for a number of years, and we worked closely together early in the project to ensure we had the right equipment to meet Petrobras' needs," said Tom Ferguson, Flowserve Pump Division President. "Latin America is an extremely important region for Flowserve, and we’ve made strategic investments in Brazil and in our Rio de Janeiro facility to support this growing area."

The Flowserve Rio de Janeiro and Taneytown facilities will work together to deliver the pumps to Petrobras. The Rio de Janeiro facility will manufacture all fabricated parts and supply electric motors locally.