Flowserve Sells Marine Unit
“The GMBU serves a niche in a non-core market and represents a small percentage of Flowserve's total business,” said Chairman and CEO C. Scott Greer. “Flowserve's strategy is to focus growth on our core end-user markets.”
GMBU provides pump technology and service for U.S. Navy submarines and aircraft carriers. In 2003, the business generated about $26 million in revenues.