CHARLOTTE, N.C., March 9, 2011 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that it has completed the acquisition of B.W. Murdoch Ltd, a leading engineering company supplying processing solutions for the food and beverage industry. The company is based in Auckland, New Zealand. Terms of the acquisition were not disclosed.
Murdoch's engineering team has decades of experience in the New Zealand dairy, beverage and bio-tech markets, providing engineering solutions with global standards and capabilities. The company is a leader in the design and construction of dairy processes.
"B.W. Murdoch greatly increases our process engineering and project management capabilities in the region," said Don Canterna, President, SPX Flow Technology. "Combined with the global platform and innovative technologies of SPX, this strategic acquisition enhances our ability to leverage combined resources to serve key customers, such as Fonterra, on a global scale. This is also an example of our investment and long-term commitment not only in New Zealand, but in the Asia Pacific region."
New Zealand is one of the world's leading exporters of dairy products, responsible for more than one third of international dairy trade. Fonterra is its leading dairy cooperative, with a capacity of 20 billion liters of milk annually. Fonterra represents more than 10,500 New Zealand dairy farmers and supplies dairy products in more than 140 countries.
B.W. Murdoch is now part of the SPX Flow Technology segment.
Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 multi-industry manufacturing leader with nearly $5 billion in annual revenue, operations in more than 35 countries and approximately 15,500 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, particularly in emerging markets, for electricity, processed foods and beverages and vehicle services. The company's products include thermal heat transfer equipment for power plants; power transformers for utility companies; process equipment for the food & beverage industry; and diagnostic tools and equipment for the vehicle service industry. For more information, please visit http://www.spx.com/.
Certain statements in this press release including any statements relating to the 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