DALLAS, March 22, 2005 (BUSINESS WIRE) -- Flowserve Corp. has entered into an agreement to acquire the Interseal assets of Australia-based Ludowici Mineral Processing Equipment Pty Ltd.
Interseal is located in Perth, Australia, and had 2004 revenues of A$2.2 million [US$1.72 million]. The transaction is scheduled to be complete on April 1. Terms were not disclosed.
The Flowserve Flow Solutions Division will use intellectual property and technology assets from the acquisition to help customers improve the reliability and lower the operating costs of their rotating equipment in the mineral and ore processing industries.
"This transaction is in line with Flowserve's strategy to manage our portfolio of businesses to capture the full life cycle of our products and enhance our end-user support," said Andy Beall, president of the Flow Solutions Division.
"This acquisition provides customers with global access and worldwide technical support from Flowserve's highly trained sales engineers and enhances our ability to provide fast repair service from our locally positioned Quick Response Centers."
Flowserve Corp. (www.flowserve.com) is one of the world's leading providers of fluid motion and control products and services. Operating in 56 countries, the company produces engineered and industrial pumps, seals and valves as well as a range of related flow management services.
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