Flowserve Signs Collaborative Agreement with Advanced Diamond Technologies
(Thomson Reuters ONE) -
DALLAS, April 22, 2013 - Flowserve Corporation (NYSE: FLS), a leading provider
of flow control products and services for the global infrastructure markets,
today announced it has signed a collaborative agreement with Advanced Diamond
Technologies, Inc. (ADT) to become the exclusive developer and supplier of
diamond coated hard faces for its mechanical seals. When applied to Flowserve
base materials, the ultrananocrystalline-structured diamond (UNCD®) coating
developed by ADT produces an exceptionally hard surface with significantly
improved friction and wear characteristics. This is particularly beneficial in
services requiring protection from slurry, dry running conditions and resistance
to chemical corrosion.
"Because diamonds are extremely hard, extremely strong while offering low
friction properties, the UNCD coating is ideal for demanding applications, such
as mechanical seals for pumps," said John Yerger, CEO and president, Advanced
Diamond Technologies. "This exclusive agreement with Flowserve for all seal-
related applications is the natural culmination of the close collaboration
between our companies."
Flowserve and ADT, a spinoff company from the U.S. Department of Energy's
Argonne National Laboratory, have worked together since the 1980s to develop,
refine and perfect diamond coating for mechanical seal faces.
"As an industry leader in the design, production, and service of mechanical
seals and support systems for pumps and other rotating equipment, Flowserve
needs a high-quality, technologically advanced and dependable source for diamond
coated hard faces for its seals," said Ken Lavelle, president, seal operations,
Flowserve. "We are proud of our long-term collaboration with ADT and feel they
are the ideal partner to provide the services we need to help our customers
extend seal reliability."
Investor Contact: Mike Mullin, director, investor relations, (972) 443-6636
Media Contact: Steve Boone, director, global communications and public affairs,
(972) 443-6644
About Diamond Technologies: Advanced Diamond Technologies (ADT) is the world
leader in developing and applying diamond films for electronic, mechanical,
industrial and biomedical applications and offers several families of high-
performance products that exploit the unsurpassed characteristics of diamond.
ADT harnesses the superlative properties of nature's perfect material by turning
natural gas into diamond in a highly controlled, reproducible process for a
variety of industrial, electronic and medical applications. ADT offers several
families of high-performance UNCD® products that take advantage of the
unsurpassed properties of diamond. More information about ADT is available at
http://www.thindiamond.com/.
About Flowserve: 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 website 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," "forecasts,"
"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;
changes in the global financial markets and the availability of capital and the
potential for unexpected cancellations or delays of customer orders in our
reported backlog; our dependence on our customers' ability to make required
capital investment and maintenance expenditures; risks associated with cost
overruns on fixed-fee projects and in taking customer orders for large complex
custom engineered products; the substantial dependence of our sales on the
success of the oil and gas, chemical, power generation and water management
industries; the adverse impact of volatile raw materials prices on our products
and operating margins; our ability to execute and realize the expected financial
benefits from our strategic realignment initiatives; 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 oil and gas producers, and non-compliance with
U.S. export/re-export control, foreign corrupt practice laws, economic sanctions
and import laws and regulations; our exposure to fluctuations in foreign
currency exchange rates, including in hyperinflationary countries such as
Venezuela; 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; expectations regarding acquisitions and the
integration of acquired businesses; our foreign subsidiaries autonomously
conducting limited business operations and sales in certain countries 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; the potential adverse impact of an
impairment in the carrying value of goodwill or other intangible assets; our
dependence upon third-party suppliers whose failure to perform timely could
adversely affect our business operations; 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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Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Flowserve Corporation via Thomson Reuters ONE
[HUG#1695170]
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2013 - 23:28 Uhr
Sprache: Deutsch
News-ID 251581
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contact information:
Town:
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