Marel sells Stork Food & Dairy Systems

MAREL has reached an agreement with the Dutch investor Nimbus on the sale of the Food & Dairy Systems division of Stork Food Systems, excluding its operations in Spain. The sale is in line with the company's strategy to focus on the profitability and organic growth of its core business centring on the fish, meat, poultry and further processing segments, where it is the leading global provider of advanced equipment and systems to these industry segments, with a 15% market share. "Marel's strategy since the merger with Stork Food Systems in May 2008 has been to increase the focus on the company's core business. The operations of Stork Food & Dairy Systems fall outside that framework and the unit has therefore been defined as a non-core business," said CEO Theo Hoen. Stork Food & Dairy Systems' business focuses primarily on the development, production and supply of processing and filling lines for dairy, juice, and liquid food products. In 2009, the unit (excluding its operations in Spain) accounted for 11% of Marel's revenues, with a turnover of €61 million.(the end)Kids Running Shoes