18.01.2008 21:29:00

Flowserve Selected by Automation Professionals as a 2007 Readers' Choice Award Winner from Control Magazine

Flowserve Corporation, a leading global provider of fluid motion and control products and services (NYSE: FLS), was selected by automation professionals in the January 2008 issue of Control magazine as the "2007 Readers’ Choice Award” winner in the category of electric valve actuation. Flowserve produces the Limitorque brand of electric actuators and received more votes than any other company in the category. "This award is a reflection of our strong commitment to provide high quality, technically advanced flow control products to the industries we serve,” said Lewis Kling, President and CEO of Flowserve. "Control magazine is an industry-leading publication, and we are pleased with the recognition our customers have given us by selecting us for this award.” The 14th Annual Reader’s Choice Awards winners were determined using a Web-based survey of Control magazine readers. Some 700 automation professionals responded to the survey and voted for the products that they felt best met their needs. Respondents included readers working in engineering, plant operations, research and development and administration. They represented industries including chemical, food and beverage, oil and gas, pulp and paper, primary metal production, stone, clay, glass, engineering and integration. "Receiving this award for the fifth consecutive year reflects our commitment to deliver industry-leading technology to our customers,” said Tom Pajonas, President, Flowserve Flow Control. "We are dedicated to providing innovate products and services so that the Limitorque brand may continue to provide solutions to our customer’s most demanding valve automation applications.” Details of the 2007 survey are in the January 2008 edition of Control magazine. About Control magazine Control serves the information needs of $50 billion global process automation marketplace through a monthly magazine, a range of digital marketing platforms centered around its website ControlGlobal.com, and its AutomationXchange events. Each year, the magazine's Readers Choice Awards poll identifies the leading solution providers in more than 60 process automation technology categories. 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. Forward-looking statements are all statements that are not statements of historical facts and include, without limitation, 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 words "believe,” "seek,” "anticipate,” "plan,” "estimate,” "expect,” "intend,” "project,” "forecast,” "predict,” "potential,” "continue,” "will,” "may,” "could,” "should,” and other words of similar meaning are intended to identify forward-looking statements. The forward-looking statements made in this news release are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that, in some cases, are beyond our control. These risks, uncertainties and factors may cause our actual results, performance and achievements, or industry results and market trends, to be materially different from any future results, performance, achievements or trends expressed or implied by such forward-looking statements. Important risks, uncertainties and other factors that could cause actual results to differ from these forward-looking statements include, but are not limited to, the following: inherent limitations of the effectiveness of our internal control over financial; potential adverse consequences resulting from securities class action litigation and other litigation, including asbestos-containing product claims; the possibility of adverse consequences related to the domestic and foreign government regarding our participation in the United Nations Oil-for-Food Program; the possibility of adverse consequences of governmental tax audits of our tax returns, including the ongoing IRS audit of our U.S. tax returns for the years 2002 through 2004; our ability to convert bookings, which are not subject to nor computed in accordance with generally accepted accounting principles, into revenues at acceptable, if any, profit margins, since such profit margins cannot be assured or assumed to follow historical trends; changes in the financial markets and the availability of capital; changes in the already competitive environment for our products or competitors’ responses to our strategies; our inability to continue to expand our market presence through acquisitions, and unforeseen integration difficulties or costs resulting from acquisitions; economic, political and other risks associated with our international operations, including military actions or trade embargoes that could affect customer markets, including the continuing conflict in Iraq, uncertainties in certain Middle Eastern countries such as Iran, and their potential impact on Middle Eastern markets and global petroleum producers; our ability to comply with the laws and regulations affecting our international operations, including the U.S. export laws, and the effect of any noncompliance; the potential adverse impact of a significant downturn in petroleum, chemical, power and water industries; changes in economic conditions and the extent of economic growth in the U.S. and other countries and regions; unanticipated difficulties or costs associated with the implementation of systems, including software; unanticipated higher costs associated with environmental compliance and liabilities; our relative geographical profitability and its impact on our utilization of foreign tax credits; the potential impact of our indebtedness on cash flows and our ability to meet the financial covenants and other requirements in our debt agreements; any terrorist attacks; adverse changes in the regulatory climate and other legal obligations imposed on us; and other factors described from time to time in our filings with the SEC. It is not possible to foresee or identify all the factors that may affect our future performance or any forward-looking information, and new risk factors can emerge from time to time. Given these risks and uncertainties, you should not place undue reliance on forward-looking statements as a prediction of actual results. All forward-looking statements included in this news release are based on information available to us on the date of this news release. We undertake no obligation to revise or update any forward-looking statement or disclose any facts, events or circumstances that occur after the date hereof that may affect the accuracy of any forward-looking statement.
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