Marel Food Systems hf. - Company Announcement

Marel announces sale of Stork Food & Dairy Systems

Marel has reached an agreement with the Dutch investor Nimbus on the sale of
the Food & Dairy Systems division of Stork Food Systems, excluding its
operations in Spain.

The sale of Food & Dairy Systems, a non-core operating unit, is part of Marel's
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. Marel is the leading global provider of advanced equipment
and systems to these industry segments, with a 15% market share. 

The assets sold are impaired, leading to a loss of EUR 16.4 mln, mainly due to
the write off of goodwill and revalued assets, which has been included in the
2009 accounts. 

Theo Hoen, CEO of Marel:
“Marel's strategy since the merger with Stork Food Systems in May 2008 has been
to increase the focus on the company's core business. The operations of Stork
Food & Dairy Systems fall outside that framework and the unit has therefore
been defined as a non-core business.

Stork Food & Dairy Systems has gone through a successful process of refocusing
and renewal of its product portfolio, thanks to the efforts of its employees
and skilled management team. We are convinced that the company will prosper
under Nimbus' ownership. 

For Marel, the sale is a very positive step forward. It paves the way for us to
further sharpen the focus on our core business and to build on our position as
market leader.” 

Stork Food & Dairy Systems' business focuses primarily on the development,
production and supply of processing and filling lines for dairy, juice, and
liquid food products. In 2009, the unit (excluding its operations in Spain)
accounted for 11% of Marel's revenues, with a turnover of EUR 61 mln. 



About Marel 
Marel is the leading global provider of advanced equipment, systems and
services to the fish, meat and poultry industries. With offices and
subsidiaries in over 30 countries and a global network of 60 agents and
distributors, we work side-by-side with our customers to extend the boundaries
of food processing performance. Marel: ONE STOP for all your processing needs.