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Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Flowserve Showcases How Its Innovations in Flood Control Are Protecting the World in New Online Film Series, Beneath the Surface

September 19, 2022 GMT

DALLAS--(BUSINESS WIRE)--Sep 19, 2022--

Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, announced today its participation in a new online film series, Beneath the Surface, presented by the International Water Association and produced by BBC StoryWorks Commercial Productions.

This film series showcases innovations taking place across the world of water, highlighting game-changing technological advancements and ways communities are coming together to protect this precious resource. Ranging from the microscopic to the vast, stories in this series celebrate pioneers within the industry and give deeper clarity to the ripple effects water has on our planet’s future.

Flowserve’s film tells the story of how Flowserve’s products and services are enabling a critical component of the Netherlands’ flood management strategy, the Afsluitdijk, and protecting millions of people from devastating floods. Viewers can learn more about the innovative ways Flowserve teams engineered, manufactured and tested some of the largest concrete volute pumps Flowserve has ever created while meeting the environmental requirements needed to protect the ecosystem where the pumps operate.

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“From helping provide fresh drinking water to protecting our communities from floodwaters, we understand the importance of preserving and managing this life-sustaining resource,” said Scott Rowe, Flowserve president and chief executive officer. “Enabling the Afsluitdijk to protect the people of the Netherlands from flooding is a very real way we’re helping make the world better together, and we look forward to further advancing our reach in the water market through our Diversification, Decarbonization and Digitization growth strategy.”

“The aim of this series is to show how the water industry is rising to the challenge of building greater security, resilience and stewardship in global water systems with a steady stream of pioneering solutions,” said Simon Shelley, vice president of BBC StoryWorks Programme Partnerships. “It’s been a pleasure to tell these stories, and we hope the series will encourage viewers to consider how we can manage our most precious resource more wisely.”

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To learn more about how Flowserve is protecting the Netherlands, visit https://flowserve.com/en/industries/water/flood-control-system/european-flood-risk-management/. To view the full Beneath the Surface series, visit https://www.bbc.com/storyworks/specials/beneath-the-surface/.

About Flowserve: Flowserve Corp. is one of the world’s leading providers of fluid motion and control products and services. Operating in more than 55 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 at www.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.

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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: the impact of the global outbreak of COVID-19 on our business and operations; 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 global economic conditions 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; if we are not able to successfully execute and realize the expected financial benefits from our strategic transformation and realignment initiatives, our business could be adversely affected; 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, trade embargoes, epidemics or pandemics or changes to tariffs or trade agreements that could affect customer markets, particularly North African, 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; increased aging and slower collection of receivables, particularly in Latin America and other emerging markets; our exposure to fluctuations in foreign currency exchange rates, including in hyperinflationary countries such as Venezuela and Argentina; 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; 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; access to public and private sources of debt financing; our inability to protect our intellectual property in the U.S., as well as in foreign countries; obligations under our defined benefit pension plans; our internal control over financial reporting may not prevent or detect misstatements because of its inherent limitations, including the possibility of human error, the circumvention or overriding of controls, or fraud; the recording of increased deferred tax asset valuation allowances in the future or the impact of tax law changes on such deferred tax assets could affect our operating results; our information technology infrastructure could be subject to service interruptions, data corruption, cyber-based attacks or network security breaches, which could disrupt our business operations and result in the loss of critical and confidential information; ineffective internal controls could impact the accuracy and timely reporting of our business and financial results; and other factors described from time to time in our filings with the Securities and Exchange Commission.

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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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View source version on businesswire.com:https://www.businesswire.com/news/home/20220919005748/en/

CONTACT: Flowserve Contacts

Investor Contacts:

Jay Roueche, Vice President, Investor Relations & Treasurer, (972) 443-6560

Mike Mullin, Director, Investor Relations, (214) 697-8568Media Contact:

Morgan Contreras, Director, Corporate Communications, (214) 476-0084

KEYWORD: TEXAS UNITED STATES NORTH AMERICA LATIN AMERICA ASIA PACIFIC EUROPE NETHERLANDS

INDUSTRY KEYWORD: OTHER DEFENSE NATURAL DISASTERS OTHER CONSTRUCTION & PROPERTY ENVIRONMENTAL HEALTH LOGISTICS/SUPPLY CHAIN MANAGEMENT BUILDING SYSTEMS RESIDENTIAL BUILDING & REAL ESTATE COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY DEFENSE ENVIRONMENT OTHER MANUFACTURING URBAN PLANNING STEEL LANDSCAPE CLIMATE CHANGE ENGINEERING CHEMICALS/PLASTICS ARCHITECTURE OTHER TRANSPORT MANUFACTURING OTHER ENERGY UTILITIES OIL/GAS MARITIME COAL TRANSPORT ENERGY

SOURCE: Flowserve Corporation

Copyright Business Wire 2022.

PUB: 09/19/2022 04:01 PM/DISC: 09/19/2022 04:03 PM

http://www.businesswire.com/news/home/20220919005748/en