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Flowserve history
Flowserve company history timeline
To this end, Flowserve sold its Metal Fab Machine Corp. to Senior Engineering Group PLC for $19 million in November 1997.
To this end, Flowserve sold its Metal Fab Machine Corp. to Senior Engineering Group PLC for $19 million in November 1997. It also opened a valve production factory in 1997 in Bangalore, India, so that it could reduce labor and materials costs.
Flowserve was founded in 1997 and is headquartered in Irving, TX.“
President and COO Jordan had left the company in October 1998 and was replaced by C. Scott Greer in July of the following year.
Investors and industry analysts had high expectations for Flowserve in 1998.
The company made five important acquisitions in 1998, all of which expanded its global reach.
Despite its many activities during 1998, however, Flowserve's sales and profits dropped as a result of the economic conditions afflicting its primary customers.
In November 1999, Flowserve made an important acquisition when it purchased Houston, Texas-based Innovative Valve Technologies Inc. for $15.7 million and the assumption of $84 million in debt.
Flowserve also won two major contracts in 1999: one to provide flow management equipment to Suncor Energy's Millennium Project and one for AEC Pipelines' oil sands pipeline expansion.
Despite these considerable advances, Flowserve's 1999 sales were hindered by the continued overall weakness of the petroleum and chemical markets.
Faced with these difficulties, as well as with the continued need to eliminate certain redundancies that had persisted since the merger, Flowserve announced early in 2000 that it would close ten facilities and lay off nine percent of its work force (about 600 people).
In October 2011 Flowserve acquired Lawrence Pumps Inc.
In 2015 Flowserve acquired SIHI.
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Flowserve competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| IDEX | 1987 | $3.3B | 7,075 | 340 |
| Emerson | 1890 | $15.2B | 83,500 | 840 |
| Whirlpool | 1911 | $16.6B | 78,000 | 167 |
| Dresser-Rand Group | 2004 | $2.8B | 11,001 | - |
| Parker Hannifin | 1917 | $19.9B | 57,170 | 773 |
| SPX | 1912 | $2.0B | 6,000 | 179 |
| Lennox International | 1895 | $5.3B | 11,550 | 635 |
| Cameron Welding Supply | 1963 | $8.8B | 35,000 | 2 |
| Eaton | 1911 | $24.9B | 92,000 | 1,956 |
| Caterpillar | 1925 | $64.8B | 97,300 | 976 |
Flowserve history FAQs
Zippia gives an in-depth look into the details of Flowserve, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Flowserve. The employee data is based on information from people who have self-reported their past or current employments at Flowserve. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Flowserve. The data presented on this page does not represent the view of Flowserve and its employees or that of Zippia.
Flowserve may also be known as or be related to Flowserve, Flowserve Corp, Flowserve Corporation and Flowserve OOO.