Flowserve (NYSE: FLS) is a manufacturer and aftermarket service provider of comprehensive flow control systems.
Flowserve has a product portfolio of pumps, valves, seals, automation and aftermarket services in support of global infrastructure industries, including oil and gas, chemical, power generation and water management, as well as general industrial markets. They currently employ more than 15,000 employees in more than 55 countries. The worldwide installed base of Flowserve's products is an important source of aftermarket revenue, where products are expected to ensure the maximum operating time of many key industrial processes. Over the past several years, they have significantly invested in the aftermarket strategy. The aftermarket business, which is served by more than 150 Quick Response Centers (“QRCs”) located around the globe, provides a variety of service offerings for customers including spare parts, service solutions, product life cycle solutions and other value added services, and is generally a higher margin business.
Source: Flowserve Corp. April 29th, 2009 10-Q