Flowserve Corporation ( FLS ), a global provider of flow control products and services , has announced the acquisition of over USD 150M in bookings from two engineering , procurement , and construction ( EPC ) contractors for projects based in the Middle East , primarily involving original equipment pumps . The company expects these awards to be |
included in its second-quarter 2024 bookings . Flowserve ’ s President and CEO , Scott Rowe , highlighted the company ’ s successful track record and robust global project funnel , which has increased by approximately 10 % as of March 31 , 2024 , compared to the previous year . He also emphasized the |
Middle East ’ s ongoing multiyear capital spending up-cycle and Flowserve ’ s strong position in the region , anticipating continuous opportunities for aftermarket and maintenance , repair and operations ( MRO ) work . The bookings represent a significant addition to Flowserve ’ s business portfolio , |
reinforcing its market presence in the Middle East and focus on selective bidding and execution of large projects . |
Sealing manufacturer Freudenberg Sealing Technologies has acquired the Trygonal Group , strengthening its global business unit Freudenberg Xpress , an |
expert in small and medium batch sizes , rapid prototyping , and customer-specific sealing solutions . The acquisition is an important milestone in the current corporate strategy to increase the service business . The parties have agreed not to disclose the purchase price . The takeover is still subject to approval by the antitrust authorities . |
The Trygonal Group recently generated annual sales of over 30 million euros . 220 employees at eight locations in Germany , Spain , Austria , and in Switzerland produce high-quality , customized sealing solutions in the areas of thermoplastics , elastomers , and rubber-metal compounds using a wide range of manufacturing processes . The acquisition also allows a significantly expanded range of |
Freudenberg ’ s own materials to be included in the Freudenberg Xpress portfolio , explains Grünschloß . “ Freudenberg ’ s materials competence and expertise are currently more in demand than ever . It is therefore a strategic decision for Freudenberg Xpress to make even greater use of this capability in order to offer even better solutions tailored to the customer .” |