Oil and Gas Support Services Company Moving Facility From New Jersey to PA

Governor Corbett’s office announced today an out-of-state manufacturer of oil and gas industry equipment will relocate part of its operations from New Jersey to Hanover Township in Northampton County.
Texas-based Flowserve Corporation is a global manufacturer and supplier of pumps, valves, and seals for the oil, gas and chemical industry. The new facility is expected to create 124 jobs over the next three years, according to the governor’s office.
“Flowserve is a great example of a company relocating to Pennsylvania to be closer to clients and benefit from the state’s pro-business climate and excellent quality of life,” said Corbett in a statement.
The company is investing more than $1.5 million in the facility. Flowserve also received $310,000 in state grant money from the Department of Community and Economic Development (DCED).
In 2008, Flowserve paid $6.5 million to settle charges by the federal Securities and Exchange Commission that two of its units were paying kickbacks to Iraqi officials under the United Nation’s Oil-For-Food program — although according to Forbes, the program was “riddled with corruption”:

A U.N.-commissioned investigation led by former U.S. Federal Reserve Chairman Paul Volcker found that 2,200 companies in 66 countries were involved in shady schemes that resulted in $1.8 billion in kickbacks to Iraqi officials.

Corbett was in Milton last week to make a similar announcement about a ACF Industries –a rail manufacturer that has re-opened its doors and hired 230 workers to build rail tank cars, which will ship oil from the Dakotas and Canada to refineries around the country.
ACF Industries received $483,000 in state grants from DCED to purchase equipment and train employees.
ACF is owned by Carl Icahn, the Wall Street billionaire known best for his hostile takeovers of other companies.
 

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