Flowserve Acquires Swiss Company

DALLAS (AP) — Pump and valve manufacturer Flowserve Corp. said Tuesday it acquired a privately owned Swiss company to expand into water desalination markets.

Terms of the deal to acquire Calder AG were not disclosed.

Calder, based in Egliswil, Switzerland, specializes in the design, engineering and supply of energy-recovery equipment and technologies used in desalination plants. Reusing waste energy significantly reduces energy consumption in the desalination process, Flowserve said.

Energy consumption is generally the biggest cost in desalination and Calder products are more energy-efficient, said Tom Ferguson, president of Flowserve's pump division.

Lewis Kling, president and CEO of Flowserve, said the demand for global water desalination is growing rapidly due worldwide population growth and urbanization. The acquisition of Calder allows the Dallas-based Flowserve to serve its customers and expand its access to global growth opportunities, he said.

According to research, worldwide desalination capacity will more than double in the next decade, with technology used by Calder expected in most of the new plants, Flowserve said.

Shares rose $1.95, or 3.4 percent, to $58.76 in morning trading.