by Sarah Hills FoodBizDaily.com London
February 05 2010 - Marel has agreed to sell the Food & Dairy Systems division of Stork Food Systems, excluding its operations in Spain, to the Dutch investor Nimbus.
The multi-national company, located in the Netherlands, Denmark, the US, Iceland, Slovakia and Singapore, claims to be a leading global provider of advanced equipment, systems and services to the fish, meat and poultry industries
It acquired Stork Food Systems in 2008 but it described the Food & Dairy Systems division as a “non-core operating unit”.
The Food & Dairy business is mainly focused on the development, production and supply of processing and filling lines for dairy, juice, and liquid food products.
Marel stated that the sale was part of its strategy to focus on the profitability and organic growth of its core business, centring on the fish, meat, poultry and further processing segments of the food processing industry.
CEO of Marel, Theo Hoen, said: “The operations of Stork Food & Dairy Systems fall outside that framework and the unit has therefore been defined as a non-core business.”
Hoen added that Stork Food & Dairy Systems had gone through a successful process of refocusing and renewal of its product portfolio and expected the company to prosper under Nimbus.
Marel stated that the assets sold are impaired, leading to a loss of €16.4m, mainly due to the write off of goodwill and revalued assets, which has been included in the 2009 accounts.
In 2009, Stork Food & Dairy Systems (excluding its operations in Spain) accounted for 11% of Marel’s revenues.
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Marel Food Systems hf
Address: Austurhraun 9 Gardabaer, 210 Iceland
Telephone: +354-56-38000
Fax: +354-56-38001
About Marel Food Systems hf
Marel Food Systems hf is an Iceland-based company active within the food industry. It is primarily engaged in the development and manufacture of food processing equipment for the fish, poultry and meat industries. The Company also offers solutions for cheese processing and prepared-food products, covering various aspects of processing, from slaughtering and primary processing of raw material to packing and labeling of finished products. Its brands include AEW Delford, Carnitech, Marel and Scanvaegt. In May 2008, the Company acquired Stork Food Systems. Marel Food Systems hf is also operational through sales and service units located in 40 countries. The Company is made up of eight business units, located in the Netherlands, Denmark, the United States, Iceland, Slovakia and Singapore. It is made up of eight business units, located in the Netherlands, Denmark, the United States, Iceland, Slovakia and Singapore. In addition, its sales and service network spans more than 40 countries.