Dallas-based Flowserve signs long-term agreement with Saudi Aramco

by PegNews wire

DALLAS — Flowserve Corporation, one of the world’s leading providers of flow control products and services for the global infrastructure markets, announced today that it has signed a 10-year strategic supplier agreement with Saudi Aramco, one of the world's largest oil producing companies.

Specifically, the new supply agreement will provide for the:

* Streamlining of the procurement process for all new Flowserve equipment, which will include pumps, valves, actuators and mechanical seals.

* Reduction in Flowserve lead times through access to guaranteed production capacity

* Delivery by Flowserve of aftermarket services to support Saudi Aramco operations through the industry leading Flowserve "LifeCycle Advantage" program, which is designed to help deliver the lowest possible total cost of ownership through optimizing spare parts inventories, reducing life cycle costs, increasing equipment life, and maximizing reliability

* Engagement in a joint product and technology development program

* Addition of local training centers and educational services that will complement Saudi Aramco’s training and Saudization programs

* Expansion of Flowserve’s locally provided value-added services and operations, supported by Flowserve’s extensive global organization

Flowserve cited its strong aftermarket capabilities, broad product portfolio, technology leadership, and long-standing partnership with Saudi Aramco as key reasons for the expanded relationship.

“Flowserve is honored to be selected by Saudi Aramco for this significant long-term strategic agreement,” said Lewis Kling, Flowserve President and Chief Executive Officer. “This new agreement demonstrates our commitment to our customers in the areas of industry-leading products, broad end-user solutions, localized service and support, as well as the in-country resources and aftermarket services.”

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.

Source: Flowserve Corp.