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Flowserve Acquires Valbart Srl For US$200 Million (€156 Million)

Posted on July 16, 2010

Flowserve Corp. has acquired Valbart Srl, a privately owned Italian manufacturer of trunnion-mounted ball valves, which are used in the oil and gas industry.

Flowserve bought Valbart for about US$200 million (€156 million) in a cash transaction. The value includes US$32 million (€25 million) of existing Valbart net debt that was repaid at closing.

Flowserve and Valbart previously formed a joint agreement in December 2009, with the intention of combining Valbart’s ball valve technology with Flowserve’s nose and cavitation-reducing trim designs. This joint venture created a trunnion-mounted control ball valve designed to deliver high performance, according to Flowserve.

For more information: www.flowserve.com

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