LUND, Sweden, Dec 01, 2006 -- Tetra Pak has completed the transaction of Carlisle Process Systems (CPS) from Carlisle Companies Inc. of Charlotte, North Carolina, USA. Financial terms were not disclosed.
Integration of CPS activities into Tetra Pak existing cheese activities began Friday, Tetra Pak said. The new entity, Tetra Pak Cheese and Powder Systems, will be led by Tim High, currently president of CPS.
"By adding these products to our current portfolio, we will be able to offer customers complete production solutions for cheese plants including whey powder, and for milk powder plants. In the USA, CPS has a particularly well-established position in the cheese market and the transaction provides Tetra Pak with a better platform for servicing this important market," said Dennis Jönsson, Tetra Pak president and CEO.
CPS develops and manufactures equipment for cheese and powder production through brands including Scherping, Damrow, and Scheffers. In 2006 the CPS sales revenues is expected to be around USD100 million and the number of employees just over 300.
"The product portfolio and geographic coverage are extremely complimentary. The rationale for the transaction is driven by providing a complete product portfolio and better service for our customers," said Sam Strömerstén, president, Tetra Pak Processing Systems.
Source: foodpacific.com
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