Flowserve Corp., a leading provider of flow control products and services for the global infrastructure markets, has signed a joint venture agreement with S&A Abahsain Co. Ltd., a Saudi Arabian business entity, spanning industry, trading, construction, real estate and services.
Building on existing joint
ventures with the Flowserve Pump and Seal divisions, Abahsain and Flowserve
have expanded their relationship to include the manufacturing of control
valves, ball valves, plug valves, butterfly valves, and electric and pneumatic
actuators for the oil and gas, petrochemical, power and water industries.
“We are pleased with this new
joint venture with Abahsain Group,” says Lewis Kling, Flowserve president and
chief executive officer. “This new agreement and partnership positions us well
to continue to serve our valuable customers in the Saudi Arabian market.”
The joint venture, called
Flowserve/Abahsain Flow Control Co. Ltd., will begin initial manufacturing from
a temporary facility in Al Khobar, Saudi Arabia. A new facility, capable of
manufacturing the full line of valve products, is planned to be constructed in
Dammam in 2009, and is expected to be operational by January 2010.
“Flowserve has existing Pump and Seal operations
in Saudi Arabia,” says Tom Pajonas, president of the Flowserve Flow Control
Division. “By signing this agreement with Abahsain, we are increasing
Flowserve’s presence in the Kingdom by adding local valve and actuator
manufacturing capabilities. This underscores our commitment to Saudization and
to the needs of our customers in the Saudi Arabian market.”
Flowserve Signs Joint Venture with S&A Abahsain Co.
February 27, 2009