Flowserve Corp. has acquired Valbart Srl, a privately owned Italian manufacturer of trunnion-mounted ball valves (TMBV) used primarily in the oil and gas industry, for about $200 million in cash. In December 2009 the two companies entered into a joint venture agreement that focused on combining Valbart’s ball valve technology with Flowserve’s high performance noise and cavitation-reducing trim designs, which led to the creation of a trunnion-mounted control ball valve designed to deliver high performance.