Townsend engineering des moines iowa

DES MOINES, Iowa (AP) -- Townsend Engineering Co., an Iowa-basedmanufacturer of meat processing equipment, shelp it has reached anagreement to be purchased by a Dutch firm.

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Stork Food Systems, based in the Netherlands, has actually signed aletter of intent to buy Townsend, the companies announced onMonday.

The proposed purchase price wasn"t disclosed. The deal isexpected to be completed by Jan. 1, according to Stork.

"It has actually been the many intense, emotional experience of my life,"sassist Ted Townsfinish, the company"s owner and also the kid of 92-year-oldRay Townsfinish, that founded the company in 1946. "And I did not takethis decision lightly."

Ted Townsfinish said there will be no layoffs, and also the sale couldcarry out avenues for the firm to thrive. The company employsabout 200 people at its Des Moines operation.

At age 57 and also the sole owner of the agency, Townsend sassist itwas vital that he played a duty in the company"s transitionfrom single ownership. He shelp he plans to remain via the firm,and also that tright here will be no alters in the monitoring team.

Townsend Engineering makes skinning and deboning equipment usedby meat-processing companies and also saintake and also hot dog machines.

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Townsfinish also owns a 200-employee manufacturing facility in the Netherlands andhas sales workplaces in Italy and Russia. Annual sales are about $80million.

Stork is part of Stork NV, which has actually businesses includingprinting units and also aerospace components. Annual sales are about$2.2 billion. Its worldwide work-related force totals about 16,000.

Becoming part of Stork will certainly allow Townsfinish to quicken the pacewith which it launches technology, Townsfinish said.

Townsend"s agency is recognized in main Iowa for employeebenefits that have actually included trips for the whole staff to theBahamas. The agency constructed a fitness facility for employees in 1978,lengthy before such a perk was commonplace.



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