SPX Awarded Contract from Midfield Group to Help Establish Dairy Powder Processing Plant in Australia

New Dryer Plant to Enable Established Meat Exporter to Bring High Quality Milk Powders to Global Dairy Markets

News provided by

Mar 10, 2015, 08:00 ET

CHARLOTTE, N.C., March 10, 2015 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Food and Beverage business has been awarded a contract from the Midfield Group.

The contract calls for SPX to help Midfield establish a new dairy powder processing plant in Australia. The facility will have the capacity to produce both whole and skim milk powder and will also include an anhydrous milk fat (AMF) processing line. The completed facility will feature an array of SPX equipment including a new preheating process to provide longer run times, enhanced evaporation technology and will utilize SPX's "Triple-A" dryer enabling production of high quality milk powders.

"We continue to leverage our global dairy processing expertise to expand our presence in Australia and the Asia Pacific region," said Marc Michael, president of SPX Flow Food and Beverage. "We look forward to working closely with Midfield Group to establish a state-of-the-art milk powder processing plant to help them grow their global business."

Founded more than 30 years ago, the Midfield Group is one of Australia's largest exporters of meat and has marketed a wide variety of meat products to dozens of countries around the world since 1995. This will be the company's first dairy processing facility and marks its initial foray into the global dairy industry. It will enable Midfield to begin producing high quality dry milk powders for export to global dairy markets where demand continues to grow.

"The world's constantly expanding population is driving increased global demand for dairy," adds Michael. "Today, demand for milk powders is particularly strong in countries such as China, as well as the broader Asia Pacific region."

Work on the project will commence in the first quarter of 2015 and it is anticipated the new plant will begin operating in mid-2016.

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global multi-industry manufacturing leader with approximately $5 billion in annual revenue, operations in more than 35 countries and over 14,000 employees. The company's highly-specialized, engineered products and technologies are concentrated in Flow Technology and energy infrastructure. Many of SPX's innovative solutions are playing a role in helping to meet rising global demand for electricity and processed foods and beverages, particularly in emerging markets. The company's products include food processing systems for the food and beverage industry, critical Flow components for oil and gas processing, power transformers for utility companies, and cooling systems for power plants. For more information, please visit www.spx.com.

Certain statements in this press release are 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 read this press release in conjunction with the company's documents filed with the Securities and Exchange Commission, including the company's annual reports on Form 10-K, and any amendments thereto, and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. Actual results may differ materially from these statements. The words "believe," "expect," "anticipate," "project" and similar expressions 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. In addition, estimates of future operating results are based on the company's current complement of businesses, which is subject to change. Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.