Flowserve Receives Contract in Malaysia - Analyst Blog
March 06 2014 - 6:00PM
Zacks
Flowserve Corporation (FLS) recently received a
contract to supply tailor-made water injection and liquid transfer
pumps to Sabah Shell Petroleum Company’s Malikai oilfield project.
This project is based 110 kilometers (68 miles) off the coast of
Sabah, Malaysia. This apart, Flowserve will also provide pumps for
seawater lift, firewater, drain caisson, flare knockout drum,
circulation and sump services. The financial details of the deal
were not disclosed but the company has booked the order in
2013.
This contract will be included in the Flow Control Division
(FCD) of the company. The flow control products are primarily used
by companies operating in the chemical, power generation, oil and
gas, water management and general industries.
The scope of the order requires Flowserve to provide four highly
engineered, variable speed drive barrel pumps of super duplex
stainless steel construction. Further, two WIK (BB5) multistage
double case diffuser pumps will supply high-pressure deoxygenated
water for well injection and a pair of HSO (BB5) multistage, double
case volute pumps will enable transportation of the crude from the
field to the KBB processing facility.
All the Flowserve pumps will be fixed with Flowserve seals and
sealing systems to ensure complete reliability and integrity of the
pumping systems.
In the fourth quarter, this segment’s reported revenues were
$1,615.7 million, up 3.8% year over year. Bookings for the segment
also increased 8.8% to $1661.9 million. In fiscal 2013, the segment
had a backlog of $769.6 million as of Dec 31, 2013, compared with
$723.9 million in fiscal 2012. The company expects to ship 87% of
2013 backlog during 2014.
Flowserve is one of the world’s leading providers of fluid
motion and control products and services. Currently, Flowserve
holds a Zacks Rank #3 (Hold). Better-ranked players in the same
industry include Altra Holdings Inc. (AIMC),
DXP Enterprises (DXPE) and Graco
Inc. (GGG), all three carrying a Zacks Rank # 2 (Buy).
ALTRA HOLDINGS (AIMC): Free Stock Analysis Report
DXP ENTERPRISES (DXPE): Free Stock Analysis Report
FLOWSERVE CORP (FLS): Free Stock Analysis Report
GRACO INC (GGG): Free Stock Analysis Report
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