Flowserve seeks assets to power ahead
(Shanghai Daily)
Updated: 2006-08-08 13:35 Flowserve Corp, one of the world's leading
suppliers of valves, pumps and fluid motion control products, is seeking to
acquire leading valve and pump producers in China to expand quicker in the
world's fastest growing market for these products.
It is scouting for opportunities to cooperate with the Chinese government and
manufacturers on technology transfer of valves for nuclear reactors as the
country is eager to localize production of nuclear power generators, senior
company officials said yesterday in eastern China's Suzhou, Jiangsu Province.
"We will build up our presence quickly and catch up with other foreign
suppliers (of these products)," said Lewis Kling, chief executive officer of
Flowserve. "So we will resort to forming joint ventures and buying of valve and
pump producers, which have to be leading players in the Chinese market."
He made the remarks after a ceremony to open its first production facility in
China in Suzhou, which the company aims to build into its operational hub in the
country and integrate it into its global supply chain.
The 15,000-square-meter Suzhou facility will be supported by its service
centers in Shanghai, Beijing, Dalian and Shenzhen. Its production capacity and
investment figure were not disclosed.
(For more biz stories, please visit Industry Updates)
|
