Flowserve Corporation (FLS), renowned globally for its flow control products and services, has unveiled the acquisition of over $150 million in bookings from two distinguished engineering, procurement, and construction (EPC) contractors. These bookings, designated for Middle East projects predominantly featuring original equipment pumps, are anticipated to bolster the company’s second-quarter 2024 bookings.
Scott Rowe, President and CEO of Flowserve, commended the company’s stellar track record and the substantial expansion of its global project funnel, which surged by approximately 10% as of March 31, 2024, compared to the preceding year. Rowe underscored the Middle East’s sustained multi-year capital spending up-cycle and Flowserve’s robust market position in the region, forecasting a continuum of opportunities for aftermarket and maintenance, repair, and operations (MRO) services, propelled by escalated activity and heightened utilization rates worldwide.
In addition to announcing the bookings, the press release encompassed forward-looking statements pertaining to Flowserve’s business strategy, anticipated advancements, and future performance. These statements, grounded in prevailing expectations, acknowledge an array of risks, including economic and political dynamics, supply chain disruptions, market fluctuations, and other factors that might influence the company’s operational trajectory and financial outcomes.
Flowserve’s procurement of bookings from the EPC contractors signifies a notable augmentation to its business portfolio, reaffirming its market footprint in the Middle East. The company’s strategic emphasis on targeted bidding and adept execution of sizable projects is poised to yield enduring value for its clientele, associates, and stakeholders alike.
This information is based on a press release statement from Flowserve Corporation.
