The Associated Press October 21, 2011, 1:39PM ET

SPX buys German food-technology company

SPX Corp. said Friday it will buy e&e Verfahrenstechnik GmbH, a German company that makes equipment for vacuum-packing and freeze-drying food.

Financial terms were not disclosed. The deal is expected to close in the fourth quarter.

SPX, which makes manufacturing equipment for a variety of industries, said the German company sells mostly to food and drink companies, with a key market being instant coffee, but also to the pharmaceutical and bioenergy industries.

It is based in Warendorf in northwestern Germany and has about 40 employees.

Shares of Charlotte-based SPX rose a nickel to $52.28 in midday trading.

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