Flowserve Corp., a provider of flow control products and services for the global infrastructure markets, recently announced the signing of a joint venture agreement with S&A Abahsain Co. Ltd., a Saudi Arabian business entity, spanning industry, trading, construction, real estate and services.
Abahsain and Flowserve have expanded their relationship to include the manufacturing of control valves, ball valves, plug valves, butterfly valves, and electric and pneumatic actuators for the oil and gas, petrochemical, power and water industries.
"This new agreement and partnership positions us well to continue to serve our valuable customers in the Saudi Arabian market," said Lewis Kling, Flowserve CEO.
The joint venture, called Flowserve/Abahsain Flow Control Company Ltd., will begin initial manufacturing from a temporary facility in Al Khobar, Saudi Arabia. A new facility capable of manufacturing the full line of valve products is planned to be constructed in Dammam in 2009, and is expected to be operational by January 2010.