05.10.2009 12:53:00

Flowserve Earns Customer Service Leadership of the Year Award

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, has been honored by Frost & Sullivan with its 2009 European Pump Services Customer Service Leadership of the Year Award.

The award was presented to Flowserve at the Frost & Sullivan sponsored Excellence in Best Practices Awards Banquet held in London September 24, 2009. Accepting the award on behalf of Flowserve was Graham Bradbury, Director of Operations, Industrial Pump Group. In April of this year Frost & Sullivan recognized Flowserve with its Best Practices Award as the 2009 Global Centrifugal Pump Growth Excellence Company of the Year.

Frost & Sullivan research analyst Syed Tauseef Ahmed explained that the annual award for Customer Service Leadership is earned by the company that has best demonstrated excellence in customer service leadership within the pump industry. According to Frost & Sullivan, it is achieved by a company that has shown extraordinary responsiveness to customer needs and has continually focused on long- and short-term customer profitability goals. Additionally, the recipient company would have demonstrated flexibility in tailoring its services and offerings to best suit customers’ business, to meet the award requirements.

Ahmed said, "Over the past five years, Flowserve has applied a mix of strategy elements to address all the service needs, with particular focus on building the geographical presence and direct representation it now has, and expanding the portfolio of serviced products and brands. Its value proposition lies in being a one-stop shop for services from initial design and engineering, to production, installation, maintenance and repair. Flowserve is truly a partner who understands customer goals and is accountable for helping customers reach them.”

"Receipt of this prestigious award is further evidence that our global associates understand the customer is truly at the center of everything we do,” said Tom Ferguson, Senior Vice President and President Flowserve Pump Division. "Customers rely on Flowserve to help them maximize the effectiveness of their operations – through increased uptime, reduced operating costs and proactive asset management. I’m proud that our skilled associates consistently deliver timely, effective solutions to meet these needs.”

About Flowserve Corp.

Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services. More information about Flowserve can be obtained by visiting the company’s Web site at www.flowserve.com.

SAFE HARBOR STATEMENT: This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. Words or phrases such as, "may,” "should,” "expects,” "could,” "intends,” "plans,” "anticipates,” "estimates,” "believes,” "predicts” or other similar expressions are intended to identify forward-looking statements, which include, without limitation, earnings forecasts, statements relating to our business strategy and statements of expectations, beliefs, future plans and strategies and anticipated developments concerning our industry, business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our current expectations, projections, estimates and assumptions. These statements are only predictions, not guarantees. Such forward-looking statements are subject to numerous risks and uncertainties that are difficult to predict. These risks and uncertainties may cause actual results to differ materially from what is forecast in such forward-looking statements, and include, without limitation, the following: a portion of our bookings may not lead to completed sales, and our ability to convert bookings into revenues at acceptable profit margins; risks associated with cost overruns on fixed-fee projects and in taking customer orders for large complex custom engineered products requiring sophisticated program management skills and technical expertise for completion; the substantial dependence of our sales on the success of the petroleum, chemical, power and water industries; the adverse impact of volatile raw materials prices on our products and operating margins; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, particularly Middle Eastern markets and global petroleum producers, and non-compliance with U.S. export/re-export control, foreign corrupt practice laws, economic sanctions and import laws and regulations; our furnishing of products and services to nuclear power plant facilities; potential adverse consequences resulting from litigation to which we are a party, such as litigation involving asbestos-containing material claims; a foreign government investigation regarding our participation in the United Nations Oil-for-Food Program; risks associated with certain of our foreign subsidiaries conducting business operations and sales in certain countries that have been identified by the U.S. State Department as state sponsors of terrorism; our relative geographical profitability and its impact on our utilization of deferred tax assets, including foreign tax credits, and tax liabilities that could result from audits of our tax returns by regulatory authorities in various tax jurisdictions; the potential adverse impact of an impairment in the carrying value of goodwill or other intangibles; our dependence upon third-party suppliers whose failure to perform timely could adversely affect our business operations; our dependence on our customers’ ability to make required capital investment and maintenance expenditures; the highly competitive nature of the markets in which we operate; environmental compliance costs and liabilities; potential work stoppages and other labor matters; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; and other factors described from time to time in our filings with the Securities and Exchange Commission.

All forward-looking statements included in this news release are based on information available to us on the date hereof, and we assume no obligation to update any forward-looking statement.

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