SPX Completes Sale of Filtran Business Unit
23 October 2009 - 11:06PM
PR Newswire (US)
CHARLOTTE, N.C. , Oct. 23 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced that it has completed the sale of its
Filtran business unit, a global leader in automotive filtration
solutions, to Madison Capital Partners, for an undisclosed price.
SPX Corporation has reported this business unit as a discontinued
operation since the fourth quarter 2008. Filtran was the last
remaining SPX business unit that manufactured automotive
components. With this divestiture, SPX has completed its strategy
to exit the automotive components industry. 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 has employees in
over 40 countries worldwide. Visit http://www.spx.com/. (NYSE:SPW)
Madison Capital Partners (www.madisoncapitalpartners.net), a
Chicago based investment firm, acquires and grows industrial
manufacturing companies. DATASOURCE: SPX Corporation CONTACT: Ryan
Taylor (Investors), +1-704-752-4486, , or Jennifer H. Epstein
(Media), +1-704-752-7403, , both of SPX Corporation Web Site:
http://www.spx.com/
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