CHARLOTTE, N.C., July 29, 2013 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Technology segment has been awarded a contract valued at nearly $40 million by a leading global infant nutrition company to supply a powdered infant formula processing plant in Germany. The plant will utilize SPX Flow Technology process systems to convert milk and other ingredients into high quality powdered infant formula, primarily for export into emerging markets.
"A growing world population and expanding middle class is driving demand for high quality powdered infant formula, particularly in China and other emerging markets such as the Middle East," said Ross Skelton, VP of Global Commercial Operations for SPX Flow Technology. "This is a significant win for SPX, and further demonstrates the trust customers have with the quality and performance of our process equipment and our deep expertise in both liquid and powder dairy process systems."
With global dairy consumption on the rise, SPX is helping dairy producers expand capacity and deliver safe, high-quality products.
"Our broad range of equipment along with our engineering and project management capabilities enable SPX to design and deliver advanced, automated and energy efficient end-to-end dairy production facilities," added Skelton. "This contract award further validates the strategic food and beverage process technology acquisitions we've made in recent years. The system will utilize equipment from our APV and Anhydro technologies and will be supported by our engineering teams in Europe."About SPX Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 multi-industry manufacturing leader with over $5 billion in annual revenue, operations in more than 35 countries and about 15,000 employees. The company's highly-specialized, engineered products and technologies are concentrated in Flow Technology and energy infrastructure. Many of SPX's innovative solutions are playing a role in helping to meet rising global demand for electricity and processed foods and beverages, particularly in emerging markets. The company's products include food processing systems for the food and beverage industry, critical Flow components for oil and gas processing, power transformers for utility companies, and cooling systems for power plants. For more information, please visit www.spx.com. Certain statements in this press release are 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 read this press release in conjunction with the company's documents filed with the Securities and Exchange Commission, including the company's annual reports on Form 10-K, and any amendments thereto, and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. Actual results may differ materially from these 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. In addition, estimates of future operating results are based on the company's current complement of businesses, which is subject to change. Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.
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