CHICAGO (AP) — JBT Corp. said Tuesday that it plans to build a new plant for its FoodTech division in Lakeland, Fla., with help from state and local government incentives.
The division, which makes food processing equipment, plans to close its current Lakeland factory, which was built before World War II. The new plant will have a scientific research and technology center and engineering facilities and offer support for the company's citrus processing customers.
JBT plans to decommission and sell its old plant once the new one is running, which it expects by mid-2013.
An incentive package from the Florida governor's office, the state of Florida, Lakeland Economic Development Commission and Polk County helped keep the plant in Lakeland, JBT said.
JBT, which also makes machinery for moving things around within factories, also said Tuesday that it received a $5.9 million contract from Ford Motor Co. for automated materials handling equipment.
Shares of JBT slipped a penny to $18.99 in morning trading.