Flowserve Announces Acquisition of HydroTechnik Olomouc; Addition of Czech Republic Seal Manufacturer Expands Manufacturing Capabilities, Service and Distribution Throughout Eastern Europe

Flowserve Corp. (NYSE:FLS), a global provider of fluid
motion and control products and services, announces today the
acquisition of HydroTechnik Olomouc, s.r.o., a privately held
mechanical seal manufacturer based in Olomouc, Czech Republic. Terms
of the deal were not disclosed.
Established in 1992, HydroTechnik Olomouc (HTO) offers an
established lineup of mechanical seals and related products, focusing
on Czech original equipment manufacturers, and power and process
industry markets. In 2005, HTO generated $860,000 in revenue.
"This addition to Flowserve's portfolio of products and services
offers tremendous potential for expansion of capacity in Eastern
Europe," said Andy Beall, president, Flowserve Flow Solutions. "It is
a positive step for Flowserve in helping increase our presence in the
region, and supporting our key strategy of globalization."
The acquisition gives Flowserve a quick path forward in supporting
customers and expanding business in the Czech Republic and throughout
Eastern Europe. HTO provides an excellent facility with strong
internal quality processes. The Olomouc facility immediately will be
configured as a Flowserve Quick Response Center (QRC) to support
regional customers.
"The outcome of this agreement is positive for both
organizations," Beall added. "And, it also benefits existing HTO
customers, who now have access to the expanded resources of a global
company with products and services beyond HTO's mechanical seal
offerings."
HTO was formed out of the former SIGMA Pumps Research Institute
when many of its top seal specialists decided to form an independent
company. The successful focus of the company remains development,
design and production mechanical seals for pumps and hydraulic
equipment producers.

About Flowserve Corp.

Flowserve Corp. is one of the world's leading providers of fluid
motion and control products and services. Operating in 56 countries,
the company produces engineered and industrial pumps, seals and valves
as well as a range of related flow management services. More
information about Flowserve Corp. can be obtained by visiting the
company's website at www.flowserve.com.

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