CHARLOTTE, N.C., Dec. 15 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced that it has completed the sale of LDS Test and
Measurement, its vibration testing and data acquisition equipment business
unit, to Spectris plc for approximately $86 million. The company reported this
business unit as a discontinued operation at the end of the first quarter
2008.
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.
