Research and development of flow management products in EU Member States

Promoter – Financial Intermediary

Flowserve Corporation, a leading provider of pumps, valves and seals, and related repair and replacement services. Flowserve's products can be found in various process industries including: petroleum refining, oil & gas production, pipeline, chemical, power generation, pulp & paper, mineral & ore processing, water resources, pharmaceuticals and general industrial applications.

Location

• United Kingdom

Description

The project comprises the promoter’s investment programme in product research and development over the years 2003-2007. The project mainly comprises the development of innovative applications and a new generation of flow management products with higher efficiency and reliability.

Objectives

The project will enhance the promoter’s competitiveness, add more flexibility to shift capacity towards areas of growing demand, and increase its productivity in the long-term. The technological innovations resulting from the product research and development will also lead to environmental benefits through improved energy efficiency, lower CO2 emissions and better management of hazardous or toxic products. A substantial part of the project is expected to be located in regional development areas.

Comments

Manufacturing of Pumps, Valves and Seals.

Sector(s)

• Industry

Proposed EIB finance (Approximate amount)

EUR 70 million.

Environmental aspects

The project will comply with all applicable environmental legislation and regulations.

Procurement

Procurement regulations do not apply to this private industry project. The promoter carries out competitive enquiries among potential suppliers for goods and services, as is usual in the industry.

Status

Signed - 19/04/2004