â€œStork will keep its name Stork Food Systemsâ€, according to Hödur Arnarsson, CEO of Marel Food Systems during the press conference in Reykjavik, Iceland.
During the conference, details of the takeover of the Netherlands based Stork Food Systems by Marel Food Systems of Iceland were given.
Arnarsson does not see any major changes in operations for the time being. The companies will continue to operate as before, but will analyse all their opportunities to improve and integrate their business activities.
The Stork Food Systems management will remain in their positions and there will be no changes directly resulting from this transaction. This also includes the location of the various production locations and the application of various brand names used under the Stork Food Systems umbrella, like Townsend, PMT, Gamco and Titan.
Arni Oddur Thordarsson, Chairman of the Board of Directors, major share holder of Marel and one of the driving forces behind the take over, prefers the use the word merger instead of takeover. He expressed that both companies are complementary and Stork is bigger in turnover than Marel, €380 mln versus €290 mln.
In his comment Stork Food Systems President Theo Hoen expressed that he was pleased to join Marel and that after several years of insecurity the company has landed in quite waters and can concentrate on providing customers with innovative solutions to strengthen their competitive advantages.