Flowserve Introduces
AutoShift™ Combination Cutting Tool,
The Next Step in Decoking Automation
 

DALLAS – August 11, 2005 – The new Flowserve AutoShift combination cutting tool provides automated, simplified and, most important, safer hydraulic decoking operation. The patented* AutoShift tool makes remote operation feasible by removing the operator from the cutting deck. Mode shifting is accomplished automatically and remotely by water pressurization and depressurization, not manually as with other tools. As such, there is no personnel exposure to the dangers of:

• High pressure water
• Hot spots or steam eruptions
• Hydrogen sulfide (H2S) vapors
• Mechanical hazards

The AutoShift combination decoking cutting tool provides numerous benefits to hydraulic decoking operations, including:
• Improved operator safety
• Greater system automation
• Reduced cycle times
• Improved efficiency
• Easier maintenance
• Shifting flexibility to free “stuck” tools
• Manual shift feature

AutoShift is available as both new equipment and as an upgrade to existing hydraulic decoking systems. The complete AutoShift apparatus is assembled, tested and stocked as a cartridge and can be quickly retrofitted at an authorized Flowserve Service Center. The retrofit assembly can be used to upgrade existing Flowserve Pacific combination tools (both axial and rotary types) and to replace Flowserve Worthington tools, Flowserve Pacific non-combination tools as well as non-Flowserve cutting tools.

With more than 100 years of decoking experience through its Worthington, Pacific and IDP heritage brands, Flowserve is the undisputed global leader in hydraulic decoking systems. It has pioneered many significant advancements in hydraulic decoking, transforming it into an increasingly safer, more efficient and automated process.

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.

For more information about Flowserve AutoShift technology, contact Frank Korkowski at 323-584-1858 or visit www.flowserve.com.  Download our PDF file.

SAFE HARBOR STATEMENT: This news release contains various forward-looking statements and includes assumptions about Flowserve's future financial and market conditions, operations and results. In some cases forward- looking statements can be identified by terms such as “may,” “will,” “should,” “expect,” “forecast,” “plans,” “projects,” “seeks,” “anticipate,” “believe,” “estimate,” “predicts,” “potential,” “continue,” “intends,” or other comparable terminology. These statements are based on current expectations and are subject to significant risks and uncertainties. They are made pursuant to safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Among the many factors that could cause actual results to differ materially from the forward-looking statements are: changes in the financial markets and the availability of capital; changes in the already competitive environment for the company's products or competitors' responses to Flowserve's strategies; the company’s ability to integrate past and future acquisitions into its management operations; political risks, military actions or trade embargoes affecting customer markets, including the continuing conflict in Iraq and its potential impact on Middle Eastern markets and global petroleum producers; the health of the petroleum, chemical, power and water industries; economic conditions and the extent of economic growth in areas inside and outside the U.S.; unanticipated difficulties or costs associated with the implementation of systems, including software; the company’s relative geographical profitability and its impact on the company’s utilization of foreign tax credits; the recognition of significant expenses associated with realigning the company's combined operations with acquired companies; the company’s ability to meet the financial covenants and other requirements in its financing agreements; further repercussions from the terrorist attacks of Sept. 11, 2001, the threat of future attacks and the response of the U.S. to those attacks; technological developments in the company’s products as compared with those of its competitors; changes in prevailing interest rates and the effective interest costs that the company bears; adverse changes in the regulatory climate and other legal obligations imposed upon the company; delays in meeting the deadline for the report of management and the independent auditor on the company’s internal controls over financial reporting and related certification; and the possibility of continuing delays in filing its periodic public reports. Flowserve undertakes no obligation to, but may choose to, publicly update or revise any forward-looking statements as a result of new information, future events or otherwise.

* U.S. Patent No. 6,644,567 and select international equivalents

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