Flowserve was established in 1997 through the merger of the companies BW/IP and Durco International. The company is active in the design and production of industrial pump, industrial assembly, regulating valve, nuclear valve and precision mechanical sealant systems, and provides various related management services mainly in the manufacturing sector. The Texas based company employs 18,000 people in 50 countries around the world, providing products and services to customers in more than 70 countries.
The investment of Flowserve in Debrecen is valued at more than HUF 4.3 billion and creates 400 new jobs over the next 3-5 years. On the basis of an individual government decision, the Hungarian Government is providing incentives in the amount of approximately HUF 1.5 billion through the collaboration of the Hungarian Investment Promotion Agency (HIPA). The newly created financial services centre will provide financial and accounting services in 10 languages to 20 countries in the North America and EMEA (Europe, Middle East and Africa) regions, mainly through the employment of career-starting university graduates.
The shared service centre (SSC) sector is one of the most dynamically developing sectors in the Hungarian economy. In 2015, following the automotive industry, this sector generated the largest number of positive projects handled by HIPA: Of the 67 positive investment decisions, 12 were linked to the SSC sector, making it the second most successful sector behind the automotive industry. In terms of the number of newly created jobs, it is also ranked 2nd: The sector accounts for 17% of the economy, with more than 2,200 newly created jobs.
More than 90 companies are currently operating in the Hungarian SSC sector, which employ more than 37 000 people, mainly multilingual, college-educated young people belonging to Generation Y (born between 1980 and 1999). These employees generally earn higher than average salaries and generate outstanding intellectual added value.