CHICAGO, Aug. 1 /PRNewswire-FirstCall/ -- John Bean Technologies
Corporation (JBT Corporation) today announced that its spin-off from FMC
Technologies, Inc. (NYSE: FTI) is complete and that shares of its common stock
are trading on the New York Stock Exchange (NYSE) under the symbol "JBT".
In connection with the spinoff, FMC Technologies shareholders received
0.216 shares of JBT Corporation common stock for every one share of common
stock they held in FMC Technologies as of the close of business on July 22,
2008. One hundred percent of the approximately 27.6 million shares of JBT
Corporation common stock were distributed.
JBT Corporation Chairman and Chief Executive Officer Charlie Cannon will
be joined by other senior JBT Corporation leaders as he rings The Opening
Bell(SM) at the NYSE on August 4th to celebrate the occasion. In addition,
after the close of trading on July 31, 2008, Standard & Poor's added JBT
Corporation to its S&P SmallCap 600 Index.
"Listing our shares on the NYSE, the world's leading and most global
capital market, is a historic event and marks a new beginning for JBT
Corporation as a global leader in the food processing and air transportation
industries," said Cannon. "We will continue to strengthen our company, expand
and deepen our relationships with our strong customer base, and invest in
initiatives that will further improve our technology leadership."
Joining Charlie Cannon on the JBT Corporation Board are the following
outside directors.
C. Maury Devine served in various positions within ExxonMobil Corporation
since 1994 including President and Managing Director of ExxonMobil Norway and
Secretary of Mobil Corporation. She previously held positions within the U.S.
Government and is currently a Board Member of FMC Technologies, Inc. and Det
Norske Veritas.
Alan D. Feldman has served as the Chairman, President and CEO of Midas,
Inc. since 2003. He previously held senior management positions within
McDonald's Corporation and PepsiCo, Inc. and is currently a Board Member of
Footlocker, Inc.
James E. Goodwin served as the Chairman and CEO of UAL Corporation and
United Air Lines, Inc. from 1999 to 2001 and is currently a Board Member of
AAR Corporation, Federal Signal Corporation and First Chicago Bank & Trust.
Polly B. Kawalek served as President of PepsiCo, Inc.'s Quaker Foods
division from 2002 to 2004 and previously held various positions for 25 years
within Quaker Oats. She is currently a Board Member of Martek Biosciences
Corporation and Kimball International, Inc.
James M. Ringler has served as Chairman of Teradata Corporation since
2007. He previously held senior management positions with Illinois Tool Works,
Premark International Inc., White Consolidated Industries and The Tappan
Company and is currently a Board Member of FMC Technologies, Inc., The Dow
Chemical Company, Corn Products International, Inc. and Autoliv Inc.
James R. Thompson has served in various positions with Winston & Strawn
LLP since 1991, including Senior Chairman and Chairman. He was the Governor of
Illinois from 1977 to 1991 and is currently a Board Member of FMC
Technologies, Inc., Navigant Consulting Group, Inc. and Maximus, Inc.
"I am very excited about the breadth of experience and expertise in the
directors who are joining JBT Corporation's Board. They provide, in aggregate,
over 90 years of public company Board experience," Cannon stated.
JBT Corporation (NYSE: JBT) is a leading global solutions provider to the
food processing and air transportation industries. The Company designs,
manufactures, tests and services technologically sophisticated systems and
products for regional and multi-national industrial food processing customers
through its JBT FoodTech segment and for domestic and international air
transportation customers through its JBT AeroTech segments. JBT Corporation
employs approximately 3,100 people and operates 16 manufacturing facilities in
10 countries. For more information please visit http://www.jbtcorporation.com.
SOURCE John Bean Technologies Corporation
CONTACT: Investors, Cindy Shiao, +1-312-861-5931, or Ken Jones,
+1-312-861-6791, both of John Bean Technologies Corporation