CHARLOTTE, N.C., Jan. 6 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced the sale of its GSE Scales product line, in the
test and measurement segment, to Illinois Tool Works Inc. SPX Corporation
reported this business unit as a discontinued operation at the end of the
third quarter 2008.
Robert W. Baird & Co. Incorporated served as an advisor on the sale.
SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The
company offers highly-specialized engineered solutions to solve critical
problems for customers.
SPX is focused on providing solutions that support the expansion of global
infrastructure, with particular emphasis on the growing worldwide demand for
energy and power. Its innovative product portfolio, containing many energy
efficient products, includes cooling systems for power plants throughout the
world; custom engineered process equipment that assists a variety of flow
processes including food and beverage manufacturing, oil and gas exploration,
distribution and refinement and power generation; handheld diagnostic tools
that aid in vehicle maintenance and repair; and power transformers that
regulate voltage for electrical transmission and distribution by utility
companies.
SPX is headquartered in Charlotte, North Carolina and employs more than
17,000 people worldwide in over 35 countries. Visit www.spx.com . (NYSE: SPW)
Certain statements in this press release, including any statements as to
the results of the transaction, may be forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and
are subject to the safe harbor created thereby. Please refer to our public
filings for a discussion of certain important factors that relate to forward-
looking statements contained in this press release. Although the company
believes that the expectations reflected in its forward-looking statements are
reasonable, it can give no assurance that such expectations will prove to be
correct. Statements in the press release speak only as of the date of this
press release, and SPX disclaims any responsibility to update or revise such
statements.
