CHARLOTTE, N.C., March 30, 2016 /PRNewswire/ -- SPX FLOW, Inc. (NYSE: FLOW) today announced it has been awarded three contracts in the first quarter worth over a combined $55 million.
SPX FLOW has been contracted to design, engineer and construct three fresh dairy factories for customers expanding capacity to meet growing consumer demand for fresh dairy products in China. The new factories are expected to begin operations in 2017.
In China, SPX FLOW has been contracted to design, engineer and construct two greenfield liquid dairy factories that will produce a range of fresh and long-life dairy products including a variety of yoghurts, milks, cheeses and nutritionally enriched dairy beverages.
These fresh dairy factories will feature an array of SPX FLOW fluid handling components including milk separators, homogenizers and agitators along with the latest vacuum mixing, membrane, Leancreme® and Infusion thermal processing technology to enable efficient and flexible production of a wide range of dairy products.
In France, SPX FLOW has been contracted to design, engineer and construct a fresh dairy factory that will utilize SPX FLOW's pasteurization, cream incubation and clean-in-place technologies.
"Consumer demand for fresh dairy and nutritional dairy products continues to increase globally, driven largely by Chinese consumers. We are recognized as having market leading expertise in dairy processing technology. This expertise, combined with our significant experience executing projects in China and in France was a key driver in our ability to win these orders," said Marc Michael, SPX FLOW President and CEO.
"We are working closely with our customers to develop flexible and optimised process solutions that meet their needs. We are very excited to help them establish these state-of-the-art dairy factories," Michael added.
About SPX FLOW, Inc.:
Based in Charlotte, North Carolina, SPX FLOW is a leading global supplier of highly engineered flow components, process equipment and turn-key systems, along with the related aftermarket parts and services, into the food and beverage, power and energy and industrial end markets. SPX FLOW has more than $2 billion in annual revenues and approximately 8,000 employees with operations in over 35 countries and sales in over 150 countries around the world. To learn more about SPX FLOW, please visit our website at www.spxflow.com.
Certain statements in this press release, including any relating to SPX FLOW performance under or completion of the contracts, 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 these results 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. 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 FLOW disclaims any responsibility to update or revise such statements.
Investor and Media Contact:
Ryan Taylor, Vice President, Communications, Market Insights and Financial Planning
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SOURCE SPX FLOW, Inc.