JBT Corporation to Acquire the Business of USA Sales & Automation
CHICAGO, Sept. 2 -- JBT Corporation (NYSE: JBT) today announced it has entered into a definitive agreement to acquire the assets of Gallatin, TN based, USA Sales & Automation, LLC, a North American leader in the supply of industrial equipment used to slice further processed meat, seafood and poultry. Terms of the transaction were not disclosed.
The acquisition of USA Sales & Automation and its horizontal slicing technology will further enhance JBT FoodTech’s integrated protein processing solutions which include the portioning, coating, cooking and freezing of meat, seafood and poultry products. USA Sales & Automation's Horizontal Slicer will be a complementary technology offering with JBT FoodTech’s vertical DSI Waterjet Portioners. Additionally, the USA Slicer will be integrated into JBT FoodTech’s new product offering, DSI Adaptive 3D TM Portioning, which will provide the opportunity to further increase yields for protein processors.
“USA Sales & Automation provides a patented slicing technology that complements and extends our integrated protein processing solutions,” said Charlie Cannon, Chairman and CEO of JBT Corporation. “Many poultry customers use USA Sales & Automation's slicers with our DSI Waterjet Portioners in their processing lines. We believe that this acquisition deepens our ability to improve our customer’s operating efficiencies, especially as they face increased pressure from energy and feed costs.”
The acquisition of USA Sales & Automation is subject to various customary closing conditions and is expected to close in the third quarter of JBT Corporation's 2008 fiscal year. Following the acquisition, USA Sales & Automation will be integrated into JBT FoodTech’s Food Solutions and Services Division.
JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to the food processing and air transportation industries. JBT Corporation designs, manufactures, tests and services technologically sophisticated systems and products for regional and multi-national industrial food processing customers through its JBT FoodTech segment and for domestic and international air transportation customers through its JBT AeroTech segment. JBT Corporation employs approximately 3,100 people worldwide and operates sales, service, manufacturing and sourcing operations located in over 25 countries. For more information please visit www.jbtcorporation.com.