Some end users have in past simply mounted the body on a lathe chuck, centred up the nozzle and machined from there. Just check the integrity of the weld afterwards like a hydro. In cases where there is not enough metal to properly machine a seat to re-machining dimensions shown in OEM manuals, some 'outfits' have welded a layer or two onto the damaged seat and dressed the seat from there......problem is later when the valve is installed and the steam heat is up, the 2 differing materials from original seat and weld material expand at different rates and the seat gets distorted and then the leaks start and get worse. This why some OEMS don't recommend stellited seats. Just thought I'd drop that in.
*** Per ISO-4126, the generic term 'Safety Valve' is used regardless of application or design ***
*** 'Pressure-relief Valve' is the equivalent ASME/API term ***