Flowserve Corporation (FLS) recently received several contracts for providing Germany-based Lichterfelde Cogeneration Power Plant with major power stations. Though the award was recorded in the company’s first quarter of 2014 bookings, the financial term remains undisclosed.
Apart from catering to the entire pumping station requirements, the deal also requires Flowserve to provide diverse support services for the entire life-cycle of the pumps including installation, initiation and maintenance. The company will also be providing additional pumps for the district heating process which optimally uses the excess heat energy released instead of wasting it at the cogeneration plant.
The company will be utilizing its heavy-duty, radially split multistage between bearings pumps for the crucial boilerfeed service (BFP) while its canned vertical turbine pumps will be required for the process of condensate extraction (CEP) in the plant.
The plant, having a power generating capacity of 300-megawatt (MW), substitutes the conventional coal with natural gas as the fuel as the latter is far more efficient that the former. Moreover, a natural gas powered plant also cuts down on emission levels, thereby meeting the stringent environmental norms effortlessly.
Flowserve’s expertise and resources in providing equipments for such large plants helped it in winning this deal. Another company that received the contract is Iberdrola, an engineering, procurement and construction (EPC) company based in Spain. Iberdola will be taking care of the engineering and construction services at the plant.
Flowserve is one of the leading providers of fluid motion and control products and services across the globe. Currently, it holds a Zacks Rank #3 (Hold). Better-ranked players in the same industry include Kadant Inc. (KAI), Middleby Corp. (MIDD) and IDEX Corp. (IEX). Both Kadant and Middleby Corp. have a Zacks Rank #1 (Strong Buy), whereas IDEX Corp. carries a Zacks Rank #2 (Buy).
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment