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2014-05-22

Flowserve Corporation: Flowserve Holds 2014 Annual Meeting of Shareholders

DALLAS, May 22, 2014 - Flowserve Corp. (NYSE: FLS), a leading provider of flow
control products and services for the global infrastructure markets, held its
2014 Annual Meeting of Shareholders today in Irving, Texas.

The Company announced at the annual meeting that James O. Rollans rotated off
as Non-Executive Chairman of the Board. William C. Rusnack was elected by the
board to serve as the new Chairman.

"The board's governance policy calls for prudent rotation of the Non-Executive
Chairman position and board committee chairs in order to better serve
shareholder interests. I am proud of what the company has accomplished during
my tenure as Chairman, and I believe Flowserve is well-positioned for the
future," said Rollans, who will remain on the board of directors.

Concerning the official business of the meeting, the company announced that
its shareholders re-elected Gayla J. Delly, Rick J. Mills, Charles M.
Rampacek, William C. Rusnack, John R. Friedery, Joe E. Harlan and Leif E.
Darner to the company's board of directors, each to serve an annual term
expiring at the 2015 Annual Meeting of Shareholders. Biographies for all
members of the board of directors can be found in the company's 2014 Proxy
Statement or onwww.flowserve.com.

Voting results indicate that shareholders approved an advisory vote on
executive compensation, voting approximately 99 percent in favor of the
proposal.

Additionally, shareholders ratified the appointment of PricewaterhouseCoopers
LLP as the company's independent registered public accounting firm for 2014.

Finally, in line with the recommendation of the board of directors,
shareholders rejected a shareholder proposal requesting confidential voting
in uncontested proxy solicitations.

Final voting results on all agenda items will be available in a Current Report
on Form 8-K to be filed by the company following certification by the
company's inspector of elections.

Flowserve Contacts
Investor Contacts:
Jay Roueche, Vice President, Investor Relations&Treasurer, (972) 443-6560
Mike Mullin, Director, Investor Relations, (972) 443-6636

Media Contacts:
Lars Rosene, Vice President, Global Communications and Public Affairs, (972)
443-6644
Amy Allen, Manager, Global Communications, (972) 443-6501

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; economic, political and other risks associated with our
international operations, including military actions or trade embargoes that
could affect customer markets, particularly Russian and 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 and other critical processes; 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 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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