Baldwin Sells its Non-Core Food Blends Business

Baldwin Technology Company, Inc. BLD today announced that it has sold Oxy-Dry Food Blends, Inc., a U.S. food blending and packaging business, to CPC Dry Pack, Inc. In April 2011, Baldwin announced a planned exit of this non-core food blending and packaging business, classified Oxy-Dry Food Blends as discontinued operations and recorded certain third quarter charges. Additionally, the Company had announced its expectation to record an additional $3 million charge in the current fourth quarter related primarily to a continuing Oxy-Dry Food Blends lease obligation in Addison, Illinois and associated employment level reductions. Under the terms of this transaction, the Company has fully transferred the lease obligation to CPC Dry Pack, Inc. and will no longer need to record the related fourth quarter charge.