Master-Bilt Awarded Preferred Supplier Agreement for Ice Cream
Cabinets by the World's Largest Chain of Ice Cream Specialty Stores
Jun. 23, 2010 (Business Wire) -- Standex International Corporation (NYSE:SXI) today announced that its Foodservice Equipment Group’s Master-Bilt business was selected by Baskin-Robbins as its preferred supplier for ice cream cabinets worldwide. The agreement enables Master-Bilt to service all freezer equipment needs for Baskin-Robbins franchisees worldwide.
As part of the agreement, Master-Bilt custom designed a deluxe ice cream dipping/display merchandiser boasting an easy-to-view low-curved glass dipping cabinet to allow for easy product viewing by Baskin-Robbins customers. In addition to this customized product, Baskin-Robbins franchisees can order Master-Bilt’s BLG model low temperature glass door merchandisers, the FIP-40 and-50 model ice cream displays, and the BHC model ice cream hardening and holding cabinets.
“We are excited to have been awarded this preferred status agreement by Baskin-Robbins, the world’s largest chain of ice cream specialty foods stores,” said John Abbott, Group Vice President, Standex Food Service Equipment Group. “Through this partnership, Master-Bilt will be able to meet Baskin-Robbins’ entire freezer equipment needs.1 We are proud that Standex’s refrigeration brands, including Master-Bilt, Nor-Lake, Kool Star and Federal Industries are among the largest suppliers of food service walk-in coolers, freezers, showcases and associated equipment nationally. Our innovative products and superior customer service continue to differentiate Master-Bilt and Standex’s entire Food Service Equipment Group in the industry.1”
Master-Bilt offers a complete line of high-performance, energy-efficient refrigerated coolers and freezers for commercial foodservice applications and has proudly served its customers for more than 70 years.
About Standex's Food Service Equipment Group
The Food Service Equipment Group (FSEG) is a broad-line manufacturer of commercial food service equipment, including walk-in coolers and freezers, refrigerated, non-refrigerated and hot display cabinets and storage systems, commercial ovens, rotisseries and cooking equipment, bakery and deli display cases, hot food counter-top products, patient feeding systems, rotary vane pumps and stainless steel fabrication, millwork and solid surface stonework. The majority of the FSEG businesses are grouped into two divisions, Standex Cooking Solutions Group and Standex Refrigerated Solutions Group. FSEG enjoys market leadership positions and strong brand recognition in the food service industry with each of its eight leadership companies: American Foodservice, APW Wyott, Bakers Pride, BKI, Federal Industries, Kool Star, Master-Bilt, Nor-Lake, Inc. and Procon. The group employs over 1,500 with manufacturing facilities in Ireland, Mexico, Mississippi, New York, South Carolina, Tennessee, Texas, Wisconsin and Wyoming. In addition to the U.S., FSEG has an established presence in Europe and is developing or expanding distributor relationships in Africa, Asia, Australia and South America.
About Standex
Standex International Corporation is a multi-industry manufacturer in five broad business segments: Food Service Equipment Group, Air Distribution Products Group, Engineering Technologies Group, Engraving Group and the Electronics and Hydraulics Products Group with operations in the United States, Europe, Canada, Australia, Singapore, Mexico, Brazil and China. For additional information, visit the Company's website at www.standex.com.
About Baskin-Robbins
Baskin-Robbins is the world’s largest chain of ice cream specialty stores, operating more than 6,500 retail shops across 35 countries.
1 Safe Harbor Language
Statements in this news release include, or may be based upon, management's current expectations, estimates and/or projections about Standex's markets and industries. These statements are forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may materially differ from those indicated by such forward-looking statements as a result of certain risks, uncertainties and assumptions that are difficult to predict. Among the factors that could cause actual results to differ are uncertainty in conditions in the financial and banking markets, general domestic and international economy including more specifically increases in raw material costs, the ability to substitute less expensive alternative raw materials, the ability to continue to successfully implement productivity improvements, increase market share, introduce new products, enhance our presence in strategic channels, the successful expansion and automation of manufacturing capabilities and diversification efforts in emerging markets, the ability to continue to achieve cost savings through lean manufacturing, cost reduction activities, and low cost sourcing, effective completion of plant consolidations and the other factors discussed in the Annual Report of Standex on Form 10-K for the fiscal year ending June 30, 2009, which is on file with the Securities and Exchange Commission, and any subsequent periodic reports filed by the Company with the Securities and Exchange Commission. In addition, any forward-looking statements represent management's estimates only as of the day made and should not be relied upon as representing management's estimates as of any subsequent date. While the Company may elect to update forward-looking statements at some point in the future, the Company and management specifically disclaim any obligation to do so, even if management's estimates change.
