Flowserve Obtains Full Ownership of Indian JV
Serck Audco’s Super-H pressure balanced plug valve
Flowserve Corporation, a leading provider of flow control products and services for the global infrastructure markets, recently announced the completion of a series of transactions related to the company’s former Audco India, Limited (AIL) joint venture with Larsen & Toubro, Limited (L&T).
As a result of these transactions, Flowserve obtains full ownership of the joint venture’s Maraimalai Nagar (MMNagar) manufacturing facility in Chennai, India, and retains the key Serck AUDCO brand lubricated valve products and technology. L&T will retain the remaining AIL entity and its other operations.
“Increasing our direct Indian exposure and guiding MMNagar’s focus in the region make this transaction particularly appealing, and this approach is very much in line with our overall portfolio management strategy,” said Tom Pajonas, senior vice president and chief operating officer, Flowserve. “We are pleased with the outcome and excited about the opportunity to grow the Flowserve business in the region by expanding our reach into markets and applications not previously targeted. In addition, we also plan to introduce new products for manufacture at the MMNagar facility, to fully maximize its capacity and promote greater localization of our valve portfolio.”
In addition to Serck AUDCO plug valves, the MMNagar facility also currently manufactures AUDCO SLIMSEAL butterfly valves and VOGT forged gate, globe and check valve products. Beyond expanded access to the Indian market, this transaction provides the opportunity for long-term cost savings for other valve products through low-cost sourcing of engineering, planning and manufacturing.
Flowserve Flow Control
Tel: 01444 314400
www.flowserve.com
Published: 17th October 2013
Rachel Wormald, Managing Director at YPS Valves Ltd and Elizabeth Waterman, ...
Are you looking for industry-leading, brand independent valve and actuator ...
As can be seen from the photograph, clearly the resident birds at Bartlett ...
Howco Group has unveiled its latest £1million investment, with the ...
In 2024, Allvalves is poised for an exciting year of growth and expansion, ...
GMM Pfaudler Engineered Plastics & Gaskets are delighted to bring the ...
In the ever-evolving valve industry, GMM Pfaudler stands out for its ...
SAMSON Controls Ltd – part of the SAMSON group - a renowned leader in ...