[August 28, 2008] Flowserve, Linde Group Form JV For European Project Tweet (InvesTrend Via Acquire Media NewsEdge) August 28, 2008 (FinancialWire) Flowserve Corp. (NYSE: FLS) (Current Market Cap: US$7.86 Bil.) said it has entered into a joint venture agreement with The Linde Group, a gases and engineering company, to commercialize and deploy iKompressorTM natural gas and biogas refueling systems. Called Flowserve Compression Systems GmbH, the joint venture plans to deliver at least seventy iKompressor refueling systems by 2009 to Germany, Austria, and neighboring European Union countries. IKompressor's systems are designed to reduce energy costs by up to twenty percent at low-inlet pressures, reduce maintenance costs, and deliver high system reliability. Flowserve said it believes that iKompressor's ionic compressor represents a significant leap in technology for multistage gas compression technology. The joint venture will be headquartered adjacent to Flowserve GmbH manufacturing facilities in Brunn am Gebirge, a suburb of Vienna, Austria. As part of the arrangement, Linde will supply the technology, ionic liquid, and ongoing applied research and development. In addition to manufacturing the iKompressor refueling systems, Flowserve plans to service the iKompressors. Dallas-based Flowserve provides fluid motion and control products and services, including pumps, seals and valves as well as a range of related flow management services. Flowserve operates in more than 55 countries. FinancialWire is a fully independent, proprietary news wire service of Investrend Information (a division of Investrend Communications, Inc.). FinancialWire news is written by professional journalists, dedicated to pure journalistic standards. FinancialWire does not receive or accept any compensation from any individual or subject company (or representative thereof) for its news or opinions. All FinancialWire news is available at http://www.financialwire.net . Please address any inquiries to [email protected] . Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 . (Distributed for Investrend Communications, Inc. via M2 Communications Ltd (www.m2.com)) Copyright ? 2008 M2 Communications Ltd. [ Back To TMCnet.com's Homepage ]