Flowserve Corp., a manufacturer of fluid motion and control products, announced Monday a joint venture agreement with China's Changsha Pump Works to focus on the growing power and water industries in China.
According to Lewis Kling, president and CEO of Flowserve, the joint venture between Flowserve and Changsha Pump Works will help Flowserve to strengthen its global growth strategy to provide world-class products to the Chinese market.
Changsha Pump Works, which is owned by Xiangtan Electric Manufacturing Co., is considered to be one of China’s largest pump manufacturers. Groundbreaking on a new 2.7-million-sq.-ft. facility in Changsha recently took place and construction is expected to be finished by the third quarter of 2008. The new plant will be used for manufacturing capability to support the joint venture.
Flowserve, which has operation in 56 countries, has a new pump, valve and seal manufacturing facility in Suzhou and offices in Beijing, Shanghai, Dalian and Shenzhen.