Flowserve signs agreement with Saudi Aramco
Businesswire.com reports that Flowserve Corporation has announced it has signed a 10-year strategic supplier agreement with Saudi Aramco, one of the world''s largest oil producing companies. The supply agreement includes Flowserve’s entire range of flow control products (pumps, valves and seals) and value-added services for use in Saudi Aramco’s existing and planned facilities. The new supply agreement will provide for the streamlining of the procurement process for all new Flowserve equipment, which will include pumps, valves, actuators and mechanical seals. It will also lead to a reduction in Flowserve lead times through access to guaranteed production capacity. In addition it will allow for delivery by Flowserve of aftermarket services to support Saudi Aramco operations through the industry leading Flowserve "LifeCycle Advantage" program, which is designed to help deliver the lowest possible total cost of ownership through optimizing spare parts inventories, reducing life cycle costs, increasing equipment life, and maximizing reliability. Flowserve cited its strong aftermarket capabilities, broad product portfolio, technology leadership, and long-standing partnership with Saudi Aramco as key reasons for the expanded relationship.