CHARLOTTE, N.C., Dec. 17, 2013 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that it has been awarded a contract valued in excess of $50M from Synutra France International, a subsidiary of Synutra International Inc., one of the leading infant nutrition companies producing and supplying in China. The contract is to establish a powdered infant formula processing plant that will utilize SPX Flow Technology process systems to convert milk and other ingredients into high quality powdered infant formula and other whey protein powdered products for export to China.
This new greenfield dairy facility will be constructed in the Brittany region of France. SPX will design and install all of the highly advanced, automated systems needed to convert fresh milk and whey into dry powdered ingredients and infant formula, including highly sophisticated wet and dry food processing technologies from SPX's APV and Anhydro brands. The completed facility is scheduled to be operational sometime in 2015.
"China's growing population and expanding middle class are helping to drive increased demand for high quality powdered infant formula," said Marc Michael, president of SPX Flow Food & Beverage. "The construction of this new powdered infant formula plant in France will allow us to further demonstrate our deep expertise in liquid dairy and dry powder processing systems, and promises to add to our growing portfolio of successful dairy facility engineering projects around the world."
With global dairy consumption on the rise, particularly in emerging markets, SPX is helping producers of milk and other dairy products, including baby formula, expand the capacity of their production plants and deliver safe, high-quality products. SPX has decades of dairy industry expertise, and today is able to help customers build state-of-the-art plants by providing everything from system design, manufacturing, installation and commissioning to equipment maintenance and operator training. The company can design and produce the equipment and technology, as well as package them as full line automated solutions for the processing of everything from liquid milk, yogurt, cheese and whey products, to butter, milk powders and baby foods.
Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 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. Forward-looking statements include any statements with respect to performance under the contract or of the plant subsequent to its completion. 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.
SOURCE SPX Corporation