Flowserve to Supply Valves For Two Westinghouse AP1000(™) Nuclear Power Plants Being Built in China
First Production Valve Order Placed by Power Plant Manufacturer
DALLAS, May 22, 2008 -- Flowserve Corporation, a leading global provider of fluid motion and control products and services (NYSE: FLS), today confirmed it will supply main steam isolation valves for the first two Westinghouse Electric Company AP1000(TM ) nuclear power plant projects in China as part of a multi-million dollar (USD) contract. The Flowserve valve is the first valve purchased for use with the new Westinghouse AP1000 reactor.
The new plants are to be located in Sanmen, Zhejiang province, and Haiyang, Shandong Province. The first of these new plants is expected to be operational in 2013, the second in 2014. Flowserve booked this Westinghouse order during the first quarter of 2008.
The Flowserve Edward gate valves and actuators that will be used in the project are designed to be capable of isolating, for plant safety, the Westinghouse AP1000 reactor main steam pipelines in 3 to 5 seconds, and are the largest Flowserve valves of this type ever built.
"We take great pride in earning the first valve order from Westinghouse for their new passive AP1000 nuclear power plant design, and look forward to serving this customer with additional Flowserve products in the future," said Tom Pajonas, president of the Flowserve Flow Control Division. "We have a leadership position in the global nuclear power industry, as a result of our aftermarket experience and capabilities, our large global installed base, and our excellent performance and safety record."
The Westinghouse AP1000 plant design is considered one of the safest designs ever built, while using 50 percent fewer safety-related valves, 80 percent less safety-related piping, and 85 percent less control cable. The new passive design also utilizes gravity in lieu of mechanical equipment to provide emergency cooling water flow.
China selected Westinghouse to build four AP1000 nuclear power plants, and this contract represents the first valve production order in the world for this Westinghouse design.
About Flowserve Corp.
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.
About Westinghouse Electric Co.
Westinghouse Electric Co., a group company of Toshiba Corporation, is the world's pioneering nuclear power company and is a leading supplier of nuclear plant products and technologies to utilities throughout the world. Westinghouse technology is the basis for approximately one-half of the world's operating nuclear power plants, including 60 percent of those in the United States. For more information visit the company's Web site at www.westinghousenuclear.com.
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Technical Contact: Zac Nagle, Vice President - Investor Relations (972) 443-6557
Media Contact: Lars Rosene, Vice President - Global Communications and Public Affairs (469) 420-3264
