The Dane completed his first signings since succeeding Brendan Rodgers as centre-half Flores, more commonly known as Chico, joined from Genoa for an initial fee of £2million, while De Guzman arrived from Villarreal on a season-long loan deal. Both players previously worked with Laudrup during his time in charge of Mallorca.
Flores, who also had spells with Cadiz, Racing Portuense and Barcelona B, told the club's official website: "He was one of the main reasons I signed. He knows me as a person and a player, so I was honoured when the call came."
The 25-year-old added: "I believe the manager will be good for Swansea and they have done extremely well to get him. Swansea's way of playing is the same style as he wants to play the game. He is the right person to take this club forward."
De Guzman admitted he was eager to work with the former Barcelona and Real Madrid midfielder again.
He said: "I am fortunate that I will be working under a good coach at Swansea who lets you be free and allows you to do what you do best.
"I like to attack as a midfielder, box to box, and hopefully I can add my share of goals along the way."
Swansea will have the option to sign De Guzman, who relegated Villarreal paid a fee of around £7million for less than 12 months ago, on a permanent basis at the end of the season.
Laudrup has also added Oscar Garcia to his backroom staff as fitness and conditioning coach.
Garcia, who worked with Laudrup at Getafe and Spartak Moscow, joins from Monaco. He succeeds Glen Driscoll, who moved to Anfield with Rodgers.
Source: PA
Source: PA