S&P 400 MidCap
18.01.2008 21:29:00
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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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