SPX to Provide Prominent Turkish Food Company with Custom-Designed System for Production of Milk, Yogurt, Double-cream Cheese, Butter and Milk Powders

Dec 14, 2010, 08:00 ET from SPX Corporation

CHARLOTTE, N.C., Dec. 14, 2010 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Technology segment has been awarded a contract valued at more than $15 million  to custom design, manufacture and install process equipment for a new dairy products factory for PANAGRO, a prominent food company in Turkey.

PANAGRO is a business unit of Konya Seker, a prominent sugar producer, and a part of AB Holdings, one of Turkey's largest food company groups. PANAGRO dairy brands include Seker Sut.

Construction of the new dairy is scheduled to begin in early 2011 in Konya in central Turkey. The dairy is being designed by SPX with advanced technologies to supply the growing demand for dairy products in Turkey and neighboring countries. The new dairy is expected to produce yogurt and ayran (drinking yogurt), as well as double cream cheese,  cheddar, kashkaval and feta cheese, butter, milk produced with ultra-high temperature processes, demineralized whey, skimmed milk powders and fruit juices.

Plans include multiple solutions from SPX's broad portfolio of branded processing technologies and solutions. Technologies include APV-branded automated thermal milk processing, fresh dairy processes, membrane and CIP (clean in place) technologies; Gerstenberg Schroder butter-making equipment; and Anhydro tubular evaporation and spray drying technologies.

"We are leveraging our advanced food processing equipment and technologies, as well as our engineering expertise, to help PANAGRO build a highly efficient dairy in Turkey," said Don Canterna, SPX segment president. "The PANAGRO project in Konya demonstrates how the broad SPX portfolio can provide companies with complete dairy processing system solutions."

The PANAGRO dairy will be designed from the ground up to be vertically integrated in a combined operation that includes an adjacent cattle farm and meat production facility.

"Nearly 30 percent of Turkey's population of 70 million people are under the age of 30, and this is the highest percentage of young people among all European countries," said Baydu Veznedaroglu, Chief Executive Officer for AB Holdings. "To feed these children and young people with healthy foods, we should increase the number of dairy and meat plant investments in Turkey.  Our country is also becoming a leading exporter of dairy products to the Middle East, and this dairy will play an instrumental role in our company's plans for this region."

SPX Flow Technology is a prominent global player in engineering, manufacturing and installing system solutions for the global food processing industry.

About SPX

SPX Corporation (NYSE: SPW) is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.

SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company's innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.

With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide. Visit http://www.spx.com.

Certain statements in this press release including any statements relating to fulfillment of the terms of the referenced contract, 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 "expected," "anticipated" 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