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Flowserve Corp. Selling Rail Business

Sale to Germany's Vossloh AG includes assets held by Australian unit Thompsons, Kelly & Lewis Pty Ltd. that generated $11 million in 2006.

DALLAS (AP) — Flowserve Corp., which makes fluid and motion control products used in industry, said Tuesday it agreed to sell the rail business owned by its Australian unit Thompsons, Kelly & Lewis Pty Ltd. to Germany's Vossloh AG.
 
Terms were not disclosed.
 
Vossloh, which makes railroad infrastructure products, needs board approval to complete the transaction. The assets being sold generated about $11 million in revenue in 2006, Flowserve said. The company is retaining Thompsons' pump assets.
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