FLOW » Topics » Major Investment Projects

This excerpt taken from the FLOW 8-K filed Dec 5, 2006.

Major Investment Projects

When we spoke with investors during Flow’s July 2006 investor teleconference, we announced that we were making investments to improve our information technology platform. These investments, of approximately $11 million over two years, will upgrade our systems architecture, our enterprise resource planning (ERP) systems, and our IT infrastructure. This will allow us to further improve our controls over financial reporting, improve our visibility into world-wide operations, and lower operations and compliance costs. Our improved ability to act globally with enhanced centralized controls addresses many of the contributing factors to our recurring financial reporting issues, while simultaneously enabling us to better utilize our global resources to improve asset utilization and productivity. While we would like to have these systems in place immediately, the size and scope of the projects means that it will take approximately two years before they are fully operational.

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