November 29, 2007

Poultry companies to acquire Stork Food Systems

Marel Food Systems and Stork NV announced an agreement to acquire Netherlands-based, Stork Food Systems division of Stork NV.

After the acquisition, Marel Food Systems will offer a powerful combination of equipment and systems for primary, secondary and further processing --- which will further create more value on innovative equipment and solutions.

The company main thrust is to be an important innovator in the food processing industry with a strong focus on research and development.

Dr. Hordur Arnarson, president and CEO of Marel Food Systems, said that the product portfolios of the two companies are complementary and has no overlap. Arnarson expressed that after the acquisition, they will be better equipped to enter the vast markets of Asia, Eastern Europe and South America.

Stork Food Systems is headquartered in Netherlands and is a global provider of solutions for the poultry, red meat and further processing industry.

Marel Food Systems, headquartered in Iceland, manufactures a variety of machines and systems for the food processing industry worldwide.