CHARLOTTE, N.C., Dec. 18 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE:
SPW) today announced that it has adopted a written trading plan under Rule
10b5-1 of the Securities Exchange Act of 1934, as amended, to facilitate the
repurchase of up to three million shares of its common stock on or before
December 31, 2009, in accordance with a share repurchase program authorized by
its Board of Directors. The company also announced that it has completed
repurchasing the full three million shares under its written trading plan
under Rule 10b5-1 announced on September 19, 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
environmentally friendly 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 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
the company's 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.
