SPX Announces Acquisition of Innovative Process Technologies and Systems Provider Anhydro
Friday, June 18, 2021 8:01 AM

Related Stories



Broadens SPX's Systems Capabilities and Expands Product Portfolio for Food, Pharmaceutical and Chemical Processing

CHARLOTTE, N.C., June 18 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Technology segment has entered into a definitive agreement with Anhydro A/S and Anhydro Holding A/S to acquire 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 acquisition were not disclosed, and completion of the transaction is expected by the end of the third quarter 2010, subject to customary closing conditions and regulatory approvals.

"Our process equipment business continues to be a key component of our growth strategy and this acquisition helps strengthen our global food, pharmaceutical and processing technology equipment offerings and systems capabilities," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "The addition of Anhydro's dry processing technology broadens our current systems capabilities beyond liquid applications, allowing us to further enhance our competencies in delivering comprehensive processing solutions to our customers."

This transaction includes all of 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 purchase of Anhydro is the second strategic acquisition for SPX's Flow Technology segment this year. In January, the company announced the acquisition of Denmark-based Gerstenberg Schroder, a prominent designer, manufacturer, installer and service provider of processing systems and components for the global food industry.

"Despite the global recession, our business continues to achieve positive momentum, and we recently won our largest order in the company's history, as well as a number of other major contracts," noted Jens Logstrup, CEO of Anhydro. "We believe now is the opportune time to begin a new chapter in Anhydro's evolution. Moreover, we see SPX's broad portfolio of processing equipment and solutions as a natural fit with our product offerings, and are confident that SPX Corporation's expanding global reach will further enhance our prospects for future growth."

About Anhydro

Anhydro supplies a complete range of evaporation and drying solutions for dairy, food, and starch producers and for the chemical and pharmaceutical industries worldwide. The company's focus on flexibility and individual customer needs secure optimal results in every link of the value chain. Anhydro is a strategic partner to leading producers all over the world. Through close cooperation with its customers, Anhydro drives the development of innovative concepts and optimization of existing processes, which enables customers to develop and introduce new products quickly and cost efficiently. More information can be found at www.anhydro.com.

About SPX

SPX Corporation (NYSE: SPW) 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 www.spx.com.

Certain statements in this press release including any statements relating to consummation of the contemplated transaction or 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.

SOURCE SPX Corporation

(Source: PR Newswire )
 

Sponsors

Symbol :

Advertisement

Market news:

  • Judge orders lesbian reinstated to Air Force Sep 24, 2021 11:33 PM

    • TACOMA, Wash. - A federal judge ruled Friday that a decorated flight nurse discharged from the Air Force for being gay should be given her job back as soon as possible in the latest legal setback to the military's "don't ask, don't tell" policy.
    • Senate Republicans blocked an effort to lift the ban this week, but Leighton is now the second federal judge this month to deem the policy unconstitutional.
    • Maj. Margaret Witt was suspended in 2004 and subsequently discharged under the "don't ask, don't tell" policy after the Air Force learned she had been in a long-term relationship with a civilian woman.
      • Fla. bank robbers strap bomb to abducted teller Sep 24, 2021 11:33 PM

        • CORAL GABLES, Fla. - Bank robbers pulled off a dramatic heist Friday, strapping a bomb to a teller and ordering him to steal as much money as he could grab from the vault - all while his father was being held hostage.
        • The men held the teller and his father hostage in the suburban Kendall apartment for seven hours, waiting for morning when the teller usually helped open his Bank of America branch near the University of Miami campus, according to the FBI and local police.
        • One suspect stayed with the father, while the other two and the teller left for the bank in the teller's red 1998 Ford Mustang.
          • APNewsBreak: 4th man sues Ga. megachurch pastor Sep 24, 2021 11:33 PM

            • ATLANTA - A fourth young male member of Bishop Eddie Long's megachurch is suing the prominent pastor, claiming Long coerced him into a sexual relationship.
            • LeGrande said that Long gave him a sleeping pill on that trip and that the two engaged in sexual acts.
            • The lawsuit claims Long convinced LeGrande that "engaging in a sexual relationship was a healthy component of his spiritual life," the complaint said.
              • Despite Dalton's INTs, No. 4 TCU outlasts SMU Sep 24, 2021 11:32 PM

                • DALLAS - Andy Dalton bounced back from interceptions on consecutive throws by leading three straight touchdown drives, lifting No.
                • 4 TCU to a 41-24 victory over longtime rival SMU on Friday night.
                • Playing on the road for the first time this season, the Horned Frogs were in a bit of trouble when Dalton's second interception set up a touchdown that gave the Mustangs a 17-14 lead early in the third quarter.
                  • Ahmadinejad says Iran may end enrichment Sep 24, 2021 11:28 PM

                    • NEW YORK - Iran would consider ending higher level uranium enrichment, the most crucial part of its controversial nuclear activities, if world powers send Tehran nuclear fuel for a medical research reactor, President Mahmoud Ahmadinejad told reporters Friday.
                    • Addressing a packed press conference in a New York hotel, Ahmadinejad also said Iran was prepared to set a date for resumption of talks with six world powers to discuss Tehran's nuclear program, saying October would be the likely time for the two sides to meet.
                    • Ahmadinejad said Iran had no interest in enriching uranium from around 3.5 percent to 20 percent purity but was forced to do so after the world powers refused to provide nuclear fuel that is needed for a Tehran reactor that produces medical isotopes for patients.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
XXXXXXXXXX CREE$0.54
gofasterstripesMr Lak CTXS$0.25
XXXXXXXXXX TOT$1.52
XXXXXXXXXX FDS$0.80
XXXXXXXXXX FDX$1.21
XXXXXXXXXX BRLI$0.28
anamrdaNA JNJ$1.15
XXXXXXXXXX SDRL$0.64
XXXXXXXXXX AXP$0.83
XXXXXXXXXX KWK$0.16