CHARLOTTE, N.C., Jan. 17, 2012 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Technology segment received three new contracts for dairy processing systems at the end of 2011 totaling more than $100 million. The three new orders will utilize a wide array of SPX's custom engineered dairy processing technologies for varying applications at process facilities in Europe and Asia.
"These new orders for large global customers are a true testament to our expertise in dairy processing systems, as well as our ability to deliver highly engineered, custom solutions in a market that is increasingly technology-driven," said Don Canterna, segment president, SPX Flow Technology. "As the world's population grows, and demand for liquid and powdered dairy products continues to rise, we are working with our customers to develop processes that have high production capacity, run efficiently and help preserve our environment."
One of the new orders is for a large food and dairy manufacturer in Europe and features multiple technologies from SPX that will enable the customer to meet rising demand for its popular dairy products. The project also includes innovative, custom designed features that are fully aligned with the customer's strict sustainability goals.
Another order, for a customer in Asia, calls for a fully integrated system, complete with mixing, infusion, evaporation and drying, for processing of consumer nutrition products. The system will include multiple SPX Flow technologies and is characterized as being flexible and expandable, in order to meet the needs of future demand.
The third order, also for a milk powder processing facility, is for a system capable of operating 24-hours-a-day, seven days a week, and will feature an innovative design that helps curb emissions. Once completed, the new facility will be one of the largest milk dryers ever installed 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 over 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 for electricity, processed foods and beverages and vehicle services, particularly in emerging markets. The company's products include cooling systems for power plants; power transformers for utility companies; diagnostic tools and charging equipment for the automotive industry; and food processing systems for the food and beverage industry. For more information, please visit www.spx.com.
Certain statements in this press release including any statements relating to performance under or results of the plants to be built pursuant to the referenced contracts, 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.
SOURCE SPX Corporation
