JBT Corporation Announces Technology Acquisition
CHICAGO, May 29, 2012 /PRNewswire/ -- JBT Corporation (NYSE: JBT) announced today that its JBT FoodTech business has purchased the rotary sterilization technology from H.G. Molenaar & Co (Pty) Ltd., headquartered in Paarl, South Africa. Molenaar is a family-owned and operated company that has engineered, manufactured and distributed large-scale machinery for the food and beverage industry since 1949.
This acquisition strengthens JBT's in-container sterilization portfolio for the canned food industry. "Molenaar's innovative can handling technology coupled with its large capacity cooker/coolers are a natural complement to JBT's existing product offering," said Steve Smith, Vice President and Division Manager for JBT FoodTech's Food Processing Systems Division. "We can now offer our global customers an even broader range of solutions tailored to their specific processing needs."
JBT plans to initially integrate the Molenaar technology into its existing South African production facility, where the company will leverage its current capacity and engineering capabilities. The terms of the transaction were not disclosed.
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to the food processing and air transportation industries. JBT Corporation designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segment. JBT Corporation employs approximately 3,300 people worldwide and operates sales, service, manufacturing and sourcing operations located in over 25 countries. For more information please visit www.jbtcorporation.com or www.jbtaerotech.com.
This release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are information of a non-historical nature and are subject to risks and uncertainties that are beyond the Company's ability to control. These risks and uncertainties are described under the caption "Risk Factors" in the Company's Annual Report on Form 10-K filed by the Company with the Securities and Exchange Commission that may be accessed on the Company's website. The Company cautions shareholders and prospective investors that actual results may differ materially from those indicated by the forward-looking statements.
SOURCE JBT Corporation
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