Flowserve Divests the Naval OY Business to Vexve OY


Flowserve Corporation (NYSE: FLS), a provider of flow control products and services for the global infrastructure markets, announced it has sold its Naval OY business unit including its all-welded ball valve product line to Finnish valve manufacturer, Vexve OY.

The sale includes Naval s manufacturing facility located in Laitila, Finland and a service and support center located in St. Petersburg, Russia. Financial terms of the transaction were not disclosed.

"In our continuing effort to optimize our product portfolios and build long-term shareholder value, we made the decision to divest the Naval product line," said Tom Pajonas, Flowserve Chief Operating Officer. "While Naval s products and employees are of the highest quality, the niche market it serves is highly cyclical and does not provide the leverage we desire for our other product lines. This divestiture is consistent with our organic and inorganic investment strategy, and as such, serves both Flowserve and Vexve well."

Flowserve obtained Naval in 2002 as part of the acquisition of Invensys Flow Control. Products in the Naval portfolio include all-welded ball valves primarily used in district heating applications in Western Europe and Russia.

More articles on this topic

Hydrogen: A Déjà Vu Moment for Arlon 3000XT

20.07.2023 -

The key to new challenges is sometimes hidden in the past. Such is the case with equipment and processes needed to produce, store, and transport hydrogen. A major hurdle facing those looking to upgrade their equipment or design new equipment is: Lack of polymer materials capable of withstanding the extreme challenges inherent to the hydrogen environment.

Read more

AxFlow Norway Announces Acquisition of VA-Prosjekt Midt-Norge AS

03.07.2023 -

AxFlow Norway is pleased to announce the successful acquisition of VA-Prosjekt Midt-Norge, a renowned provider of turnkey solutions to municipalities in the field of water and wastewater infrastructure. The acquisition marks a significant milestone in AxFlow’s strategic expansion plan, reinforcing its commitment to delivering comprehensive and sustainable solutions to customers in Norway.

Read more


19.06.2023 -

TECHINDIA is a leading Business Exhibition on Engineering and Manufacturing. The 11th edition scheduled during 1-3 September 2023, at Bombay Exhibition Centre, Mumbai (India) will showcase the exhaustive range of innovations and technological refinements in the complete product segment of “Pumps, Valves & Compressors”, “Gears, Motors & Controls” and “Bearings, Shafts & Couplings” and other allied sectors.

Read more