Flowserve Receives Order for Approximately $10 Million for Desalination Energy Recovery Systems
Flowserve announces an order for CALDER Dual Work Exchanger Energy Recovery (DWEER) units with an approximate value of $10 million USD for the Sorek seawater desalination plant.
DALLAS, May 11, 2010 --Flowserve Corporation (NYSE: FLS), a leading provider of flow control products and services for the global infrastructure markets, today announced an order for CALDER Dual Work Exchanger Energy Recovery (DWEER) units with an approximate value of $10 million USD for the Sorek seawater desalination plant. The majority of the booking for this order is to be reflected in the second quarter of 2010.
With a capacity of 150 million cubic meters (39.6 trillion U.S. gallons) per year, Sorek is the largest seawater desalination plant in the world featuring isobaric chamber recovery system technology. Sorek Desalination Ltd., a joint venture between IDE Technologies and Hutchison Water, owns the facility.
"This order further solidifies our position as a leader in the growing desalination industry," said Tom Ferguson, president, Flow Solutions Group. "A key factor in selecting Flowserve was the lowest total cost of ownership; a 24-year life-cycle cost analysis found Flowserve was the most efficient and economical choice for Sorek when considering capital, operating cost, energy efficiency and maintenance. As the worldwide demand for fresh water continues to outpace supply, Flowserve is proud to offer technology that can help reduce the cost of the desalination process and provides more potable water for those who need it."
Flowserve CALDER products and technologies specialize in the design, engineering and supply of energy recovery equipment and related proprietary technologies for the reverse-osmosis process used in desalination plants around the world. CALDER energy recovery technology is designed to capture and reuse waste energy in the desalination process, lowering net energy consumption and improving overall process efficiency.
About IDE Technologies
IDE Technologies Ltd. is a pioneer and world leader in water technologies. The company specializes in the development, engineering, production and operation of advanced desalination as well as innovative industrial solutions.For more information, please visit www.ide-tech.com.
About Hutchison Water
Hutchison Water was established in 2008 as an operation of Hutchison Whampoa Ltd. The company provides a wide range of integrated solutions and services that include development, design, detailed design, systems integration, engineering, procurement and construction. For more information, please visit www.hutchisonwater.com..
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.
Technical Contact: Paul Fehlman, 972-443-6517, Vice President, Financial Planning & Analysis and Investor Relations
Media Contact: Steve Boone, 972-443-6644, Director, Global Communications & Public Affairs