Flowserve has acquired the remaining 50% of shares needed to have full ownership of Niigata Worthington in Kawasaki, Kanagawa, Japan.rnFlowserve previously owned 50% of Niigata Worthington in a long-term joint venture.rnNiigata Worthington, which manufactures Flowserve pumps and other rotating equipment, reported sales of approximately $64 million in 2007. Flowserve recorded approximately f 2 million for its 50% share of net income from the joint venture in 2007.rnThe transaction will be completed through cash and assumed liabilities totalling approximately $12 million. Other terms of the purchase were not disclosed.
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