Hungarian Investment Promotion Agency

Established in 1997, Flowserve designs and produces systems of industrial pumping, industrial fittings, control valves, nuclear valves, and precision mechanical sealings and provides various related management services targeting mainly the processing industry. In order to provide professional services for its clients, the Texas-based company employs some 18 000 people at 245 locations in 55 countries worldwide.

In 2016, Flowserve opened its business service centre (BSC) in Debrecen where it employs some 200 associates to provide financial and accounting services in seven languages for countries of the North American and EMEA (Europe, Middle-East and Africa) region.

The new Budapest centre of the company is going to serve as a key resource in researching and developing innovative product solutions, by applying cutting edge technologies. The unit starts operating with 30 engineers and plans to steadily increase its workforce, which may thus exceed a 100 people in the future. This team of engineers will focus on incorporating leading edge technologies in fluid dynamics, tribology, rotodynamics and mechatronics into our products, while applying best practices for manufacturability and assembly.

Flowserve was looking for a site all over Europe before opting for Budapest; the choice was supported by the investor-friendly business environment, the logistics background, the skills and language proficiency of the workforce and the excellent co-operation with the Hungarian Investment Promotion Agency (HIPA) and the Budapest University of Technology and Economics.