Flowserve Signs Joint Venture with Valbart

Flowserve Corp. announced it has entered into a joint venture agreement with Valbart Srl, an Italian manufacturer of high performance valves. The joint venture agreement was signed in the fourth quarter of 2009. Manufacturing will take place at a Valbart facility operated by the joint venture, located in Mezzago, Italy.

"Bringing together proprietary technology from both Flowserve and Valbart should allow us to deliver a more cost-effective, high performance solution for oil and gas customers than was previously available," said Tom Pajonas, President, Flowserve Flow Control Division. "The joint venture will take proven control valve technology and apply it to an established design from the ball valve market, which should result in a lower total cost of ownership for customers." More…