Flowserve Provides Further Details about Orders for the Pearl Gas-to-Liquids Plant Being Developed by Qatar Petroleum and Shell in Qatar
Flowserve Corporation, a leading global provider of fluid motion and control products and services (NYSE: FLS), announced yesterday that it had received orders for the Pearl Gas-to-Liquids (GTL) plant being developed by Qatar Petroleum and Shell in Qatar.
Flowserve provided further details today, noting that orders for major projects of this type are typically received over several quarters. The company included a substantial majority of the orders for this project in the bookings reported in its previous 2007 quarters. The company expects the remaining orders for this project to be reflected in bookings reported in the fourth quarter of 2007 and potentially into 2008. The company also added that it is unable to provide additional details about the business terms for the project due to confidentiality agreements with the applicable customers. The company said that its overall bookings for the fourth quarter, including those related to the Pearl GTL project, are expected to be in-line with quarterly booking levels of the three previous quarters of 2007.
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. SAFE HARBOR
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