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2014-04-08

Flowserve Corporation: Flowserve Awarded Several Contracts for Pumping Systems at Cogeneration Power Plant in Germany

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products
and services for the global infrastructure markets, today announced it
received multiple orders for key pumping systems for the Lichterfelde
Cogeneration Power Plant. The orders were booked in the first quarter of
2014. Located in Germany, the 300-megawatt (MW) plant replaces an old coal
plant. Cogeneration power plants use natural gas as a fuel and have an
efficiency level almost double that of a comparable coal fired plant,
resulting in significantly reduced emission levels. The cogeneration facility
utilizes the otherwise wasted heat energy for district heating.

The Flowserve pumping systems at the heart of this plant use heavy-duty,
radially split, multistage between bearings pumps for boilerfeed service
(BFP) and canned vertical turbine pumps for condensate extraction (CEP). In
addition, Flowserve will also provide the pumps for the district heating
process.

"Flowserve's extensive experience and history of supplying equipment for
cogeneration and combined cycle power plant projects of this magnitude were
crucial factors in winning these orders," said Jim Quain, president,
Flowserve Sales Organization. "Also important was our ability to supply the
entire project's pumping needs as well as our full line of services,
including installation, start-up and lifetime maintenance."

The engineering and construction activity for the projects is being managed by
Iberdrola, the distinguished Spanish engineering, procurement and
construction (EPC) company.

Flowserve Contacts
Investor Contacts:
Jay Roueche, vice president, Investor Relations&Treasurer, (972) 443-6560
Mike Mullin, director, Investor Relations, (972) 443-6636

Media Contact:
Lars Rosene, vice president, Global Communications and Public Affairs, (972)
443-6644

About ACWA Power International:
ACWA Power International (ACWA Power) is a developer, investor, co-owner and
operator of plants with a generation portfolio of 15,731 MW of power and 2.37
million m3/day of desalinated water with an investment value in excess of USD
23 billion and providing employment to more than 2,300 people.

The company, incorporated in the Kingdom of Saudi Arabia, with a paid-up
capital of approx. USD 1.4 Billion is owned by eight Saudi conglomerates
besides Sanabil Direct Investment Company (owned by the Public Investment
Fund) and by the Saudi Public Pensions Agency. ACWA Power's core business is
the delivery of electricity and desalinated water by operating assets in
which the company has a meaningful level of investment to exercise
operational control.

About Flowserve:
Flowserve Corp. is one of the world's leading providers of fluid motion and
control products and services. Operating in more than 50 countries, the
company produces engineered and industrial pumps, seals and valves as well as
a range of related flow management services. More information about Flowserve
can be obtained by visiting the company's Web site atwww.flowserve.com.

Safe Harbor Statement:
This news release includes forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, which are made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995, as amended. Words or
phrases such as, "may," "should," "expects," "could," "intends," "plans,"
"anticipates," "estimates," "believes," "forecasts," "predicts" or other
similar expressions are intended to identify forward-looking statements,
which include, without limitation, earnings forecasts, statements relating to
our business strategy and statements of expectations, beliefs, future plans
and strategies and anticipated developments concerning our industry,
business, operations and financial performance and condition.

The forward-looking statements included in this news release are based on our
current expectations, projections, estimates and assumptions. These
statements are only predictions, not guarantees. Such forward-looking
statements are subject to numerous risks and uncertainties that are difficult
to predict. These risks and uncertainties may cause actual results to differ
materially from what is forecast in such forward-looking statements, and
include, without limitation, the following: a portion of our bookings may not
lead to completed sales, and our ability to convert bookings into revenues at
acceptable profit margins; changes in the global financial markets and the
availability of capital and the potential for unexpected cancellations or
delays of customer orders in our reported backlog; our dependence on our
customers' ability to make required capital investment and maintenance
expenditures; risks associated with cost overruns on fixed-fee projects and
in taking customer orders for large complex custom engineered products; the
substantial dependence of our sales on the success of the oil and gas,
chemical, power generation and water management industries; the adverse
impact of volatile raw materials prices on our products and operating
margins; our ability to execute and realize the expected financial benefits
from our strategic realignment initiatives; economic, political and other
risks associated with our international operations, including military
actions or trade embargoes that could affect customer markets, particularly
Middle Eastern markets and global oil and gas producers, and non-compliance
with U.S. export/re-export control, foreign corrupt practice laws, economic
sanctions and import laws and regulations; our exposure to fluctuations in
foreign currency exchange rates, including in hyperinflationary countries
such as Venezuela; our furnishing of products and services to nuclear power
plant facilities; potential adverse consequences resulting from litigation to
which we are a party, such as litigation involving asbestos-containing
material claims; a foreign government investigation regarding our
participation in the United Nations Oil-for-Food Program; expectations
regarding acquisitions and the integration of acquired businesses; our
foreign subsidiaries autonomously conducting limited business operations and
sales in certain countries identified by the U.S. State Department as state
sponsors of terrorism; our relative geographical profitability and its impact
on our utilization of deferred tax assets, including foreign tax credits; the
potential adverse impact of an impairment in the carrying value of goodwill
or other intangible assets; our dependence upon third-party suppliers whose
failure to perform timely could adversely affect our business operations; the
highly competitive nature of the markets in which we operate; environmental
compliance costs and liabilities; potential work stoppages and other labor
matters; our inability to protect our intellectual property in the U.S., as
well as in foreign countries; obligations under our defined benefit pension
plans; and other factors described from time to time in our filings with the
Securities and Exchange Commission.

All forward-looking statements included in this news release are based on
information available to us on the date hereof, and we assume no obligation
to update any forward-looking statement.
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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Flowserve Corporation via Globenewswire

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