CHARLOTTE, N.C., May 7, 2012 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Technology segment was awarded a contract worth more than $30 million from ArNoCo GmbH & Co. KG of Germany, a joint venture between DMK and Arla Food Ingredients. Under the terms of the contract, SPX will provide ArNoCo with a complete lactose processing system, including sanitary membrane plants, for the large-scale production of whey protein concentrate (WPC) at a new cheese plant in Northern Germany.
As part of the project, SPX will design, manufacture and install a full-line system utilizing membranes, evaporation and drying equipment from its Anhydro and APV product lines. The system will include new process technology for high-quality, high-yield lactose powder. SPX Flow Technology Denmark will provide engineering, equipment and project implementation oversight.
"This impressive contract award is reflective of the strong value we're able to deliver to our customers by bundling Anhydro and APV technologies, and increased customer recognition for our expertise in designing and installing sophisticated dairy processing systems," said Don Canterna, SPX Flow Technology segment president. "While whey was previously regarded as a disposable by-product of cheese-making, it is increasingly utilized throughout the food industry as a source of highly nutritious ingredients for other dairy and food products. We look forward to working closely with ArNoCo to assist them in establishing their new state-of-the-art whey protein concentrate production facility in Germany."In 2011, DMK and Arla Food Ingredients announced that their joint venture would buy approximately 700,000 tons of whey per year from DMK and convert it into WPC and lactose at the new plant in Germany. The WPC would then be dried at Arla Foods' plant in Denmark (Denmark Protein), and the resulting products marketed, sold and distributed globally to food manufacturers by Arla Foods Ingredients. SPX is also currently in the process of installing an Anhydro dryer for WPC at Arla's Denmark Protein plant. About SPXBased in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 multi-industry manufacturing leader with more than $5 billion in annual revenue, operations in more than 35 countries and approximately 18,000 employees. The company's highly-specialized, engineered products and technologies serve customers in three primary strategic growth markets: infrastructure, process equipment and diagnostic tools. Many of SPX's innovative solutions are playing a role in helping to meet rising global demand, particularly in emerging markets, for electricity, processed foods and beverages and vehicle services. The company's products include thermal heat transfer equipment for power plants; power transformers for utility companies; process equipment for the food & beverage industry; and diagnostic tools and equipment for the vehicle service industry. This description of SPX does not contemplate the pending sale of the Service Solutions business. For more information, please visit http://www.spx.com. Certain statements in this press release, including matters relating to the completion of the contract, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The word "expect," "believe" and similar expressions may identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Statements in the press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts