JOINT PRESS RELEASE: Flowserve and Pleuger Industries GmbH Resolve Legal Differences Through a Client Focused Commercial Cooperation Agreement

01 November 2023, Miami, Florida: Flowserve Corporation (NYSE: FLS) and Pleuger Industries GmbH are pleased to announce an early mutual resolution to all pending legal disputes between the parties through the establishment of a cooperative commercial relationship for the foreseeable future.

Flowserve and Pleuger have agreed to focus on certain joint initiatives to drive advancements in fluid motion control solutions within the Pleuger and Flowserve product ranges.

Flowserve acknowledges Pleuger, the owner Pleuger® and AldrichTM brand of products and services, is an independent manufacturing company, with its headquarters in the United States and its center of excellence in Germany. Flowserve is the sole owner of certain technology and intellectual property for ebullator motors. Under the parties’ new commercial relationship, Pleuger will manufacture and supply those ebullator motors exclusively for Flowserve. Pleuger is also committed to support Flowserve continuously from a service perspective. This support will ensure the seamless continuation of operations and maintain the high-quality standards previously set by both Flowserve and Pleuger. In addition to the strategic supply relationship for ebullator motors, Pleuger has also appointed Flowserve as a reseller of its Pleuger® and AldrichTM branded pump products to supplement Pleuger’s independent worldwide direct sales.

By relying on each other’s strengths and respective expertise, both companies aim to provide cutting-edge technologies and efficiently deliver exceptional value to their customers worldwide efficiently.

“Pleuger now looks forward to taking their 20-year relationship with Flowserve further, based on this mutually beneficial structure,” said Anton Schneerson, CEO of Pleuger. “By working together closely, Pleuger and Flowserve aim to elevate their customer approach and jointly capitalize on their separate skill sets for the benefit of clients, employees, and stakeholders. Pleuger remains dedicated to upholding its status as an independent operation and direct supplier, ensuring exceptional standards in engineered manufacturing and service throughout this endeavor. We thank Flowserve for its cooperative and amicable spirit in resolving legal matters and solidifying a positive go-forward commercial relationship.”

The cooperation between Flowserve and Pleuger allows both parties to continue to provide excellent customer service to their clients and avoid any disruptions. This new commercial relationship heralds an exciting time for both Flowserve and Pleuger Industries as they continue to deliver top-quality solutions and services to the industries they serve.

Contact: press@pleugerindustries.com