To support customers through the energy transition, many companies are continually investing time and energy into transforming the current marketplace. One method of progress is to approach the energy transition through innovative collaboration. Valve World Americas had the pleasure of speaking with President and CEO of Flowserve, Scott Rowe, about his experiences in the valve industry and how recent decisions will impact the market overall.
By Angelica Pajkovic
Q: Can you please provide a brief history of your background and how you became involved in the industry?
A: My time in the U.S. Army played a significant role in molding me into who I am today. It shaped me as a person and a leader; that experience has been invaluable as I moved into business. After transitioning into the corporate world, I found a home in the manufacturing and flow control industry, and I have enjoyed it ever since.
What do you enjoy most about your work?
Without a doubt, our people. As a global company with a diverse portfolio of products and solutions, I am continuously amazed by the depth of knowledge, passion for our customers, and talent of each of our associates. I know that this sentiment will only continue to grow with the Velan acquisition.
I love to see teams succeed when in challenging situations. It is so rewarding to watch groups of people make progress toward their goals — whether it is safety performance, technological innovation, or delivering a large order to a customer. I really enjoy celebrating success with our teams and being a part of their development!
Can you discuss the upcoming acquisition?
I could not be more pleased with our decision and the timing to join forces with Velan. We are doing some good things at Flowserve to support our 3D strategy (diversify, decarbonize, and digitize), and I am excited to bring the Velan people and its offering, into our long-term strategy. There are still some details to be worked out, but we are working closely with their team and expect to close the transaction by the end of the second quarter of this year. Once they are fully onboard, Velan associates will be part of our Flow Control Division, led by President Kirk Wilson.
How will this collaboration impact the industry?
As a separate entity, Velan’s unique differences are what will make us stronger and better together. Velan’s products have very little overlap with our existing product portfolio. With its strong positioning in the nuclear, cryogenic, industrial, and defense markets, we are looking at a highly complementary product portfolio.
As a combined organization, I am confident that our collective brands, deeply rooted heritage, and technical expertise will be a winning outcome for our customers.
We are leaning into our 3D strategy to diversify, decarbonize, and digitize so that we are fully enabling our customers. I am excited to see our joined teams advance our 3D strategy further and take us to new heights, as we will be even better positioned to serve our customers’ flow control challenges.
How will it affect the identity of both companies?
While our product portfolios may differ as separate entities, we share similarities in our values and culture of commitment to our customers. Once we close the transaction, we will still have the same values as before but will come together as one Flowserve family. We will accomplish great things together, and we are all excited for the next chapter.
How is Flowserve paving a way for emission reduction?
We are fully committed to our 3D strategy of diversification, decarbonization, and digitization. Everything we do —from our new product development and new solutions, to strategic partnerships — will align with our 3D strategy.
We continue to refine our approach to our decarbonization pillar to ensure we are fully supporting our customers through the energy transition. As customers seek to decarbonize their existing businesses, we will continue leveraging our Energy Advantage Program to offer a holistic approach to help customers reach their goals. We actively evaluate the existing infrastructure for energy and are increasingly investing in things like LNG and nuclear markets. Additionally, we have a dedicated team pursuing new energy technologies such as CCUS, green hydrogen, recyclable plastics, and more. Our approach has opened the door to some great opportunities. And with the world shifting its focus to decarbonization efforts, it should come as no surprise that we have exponentially increased our bookings in the last year to reflect this shift.
We are committed to continuing this path and ensuring that our products and services support customers’ decarbonization efforts, and we are evolving in lock-step with our customers for this journey.