SPX Completes Acquisition of Gerstenberg Schroder
SPX first announced that it had entered into a definitive agreement to acquire Gerstenberg Schroder on January 11, 2010. Gerstenberg Schroder will operate within SPX's Flow Technology segment.
1 Mar 2010 --- SPX Corporation has completed the acquisition of Gerstenberg Schroder A/S, a leading designer, manufacturer, installer and servicer of processing systems and components serving the global food industry. The terms of the transaction were not disclosed.
"The addition of Gerstenberg Schroder strengthens our growing process equipment business by expanding our global food processing technology, equipment offerings and systems capabilities," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "The acquisition also further enhances our design competencies for the turnkey, scalable food processing systems. Food manufacturers are increasingly seeking these kinds of systems to help optimize the production quality, efficiency, reliability and scale of their operations."
SPX first announced that it had entered into a definitive agreement to acquire Gerstenberg Schroder on January 11, 2010. Gerstenberg Schroder will operate within SPX's Flow Technology segment.
Privately-held Gerstenberg Schroder had fiscal 2009 revenues of approximately $70 million. The company is a leading supplier of modern, highly efficient processing lines for the manufacture of products such as margarine, butter, spreads and shortening. In addition, the company supplies emulsified food products such as mayonnaise, sauces and dressings. The company's installations include scraped surface heat exchangers, continuous butter processing lines, emulsification equipment and in-line mixing equipment, and can be found in 120 countries. Headquartered in Denmark with other locations in Germany and other countries, the company's heritage of food industry expertise dates back to the early 1900s.
