CHARLOTTE, N.C., July 21 /PRNewswire-FirstCall/ -- SPX Corporation today announced that it has completed the acquisition of the Anhydro business, a Soeborg, Denmark-based global supplier of liquid concentration equipment, powder processing solutions, and dewatering plants and equipment. The terms of the transaction were not disclosed.
Anhydro supplies a wide range of evaporation and drying solutions for dairy, food, and starch producers and for the chemical and pharmaceutical industries worldwide. The transaction includes all Anhydro's business units with the exception of its Danish Filter business, Simatek A/S, and its German, U.K. and U.S. operations, as well as certain individual projects. The acquired business units employ 225 employees and are expected to generate 2010 full-year revenue of approximately 85 million Euros.
"The addition of Anhydro broadens our technology equipment offerings and systems capabilities and strengthens our ability to serve customers in the global food, pharmaceutical and chemical processing end markets," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "This strategic transaction also builds on our recent acquisition of Gerstenberg Schroder and underscores our commitment to expanding our Flow Technology segment, which remains a key component of our global growth strategy."
SPX first announced that it had entered into a definitive agreement to acquire Anhydro on June 18, 2010. Anhydro will operate within SPX's Flow Technology segment.
About SPX
SPX Corporation is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.
SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company's innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.
With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide. Visit http://www.spx.com/.
Certain statements in this press release including any statements relating to post-acquisition results, 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.
SPX Corporation
CONTACT: Ryan Taylor (Investors), +1-704-752-4486, investor@spx.com,
Jennifer H. Epstein (Media), +1-704-752-7403, jennifer.epstein@spx.com
Web Site: http://www.spx.com/
