CHARLOTTE, N.C., Sept. 28, 2015 /PRNewswire/ -- SPX
Corporation (NYSE: SPXC) today announced that it has completed the
spin-off of SPX FLOW, Inc. and will begin trading today on the New
York Stock Exchange under the symbol "SPXC".
SPX Corporation is led by non-executive Chairman, Patrick O'Leary and President and Chief
Executive Officer, Gene Lowe.
"Today marks a significant milestone in the long history of our
Company and also the beginning of a new chapter as we work to grow,
advance and redefine SPX Corporation," said Mr. O'Leary.
"Going forward, we will have greater strategic flexibility and will
also have an increased ability to attract an investor base suited
to our Company's specific operational and financial
characteristics."
Mr. Lowe added, "We are well-positioned with established product
brands and leading positions in HVAC, Detection and Measurement and
Power markets. We have a strong track record of innovation
with the majority of our products designed to meet our customers'
need for higher efficiency and productivity. As we move
forward, we are focused on driving profitable growth, aligning our
cost structure, enhancing our portfolio and executing disciplined
capital allocation actions."
Mr. Lowe is joined by an experienced executive team who bring
extensive industry knowledge and strong functional and operational
skills to SPX Corporation. They include:
- Scott Sproule – Vice President,
Chief Financial Officer and Treasurer
- Randy Data – President, South
Africa and Global Operations
- John Swann – President,
Weil-McLain, Marley Engineered Products and Radiodetection
- John Nurkin – Vice President,
Secretary and General Counsel
- Tausha White – Vice President
and Chief Human Resources Officer
- Brian Mason – President, SPX
Transformer Solutions
- J.B. Ballard – President, TCI
and Flash Technologies
- Darren Dickson – President,
Genfare
- Rick Bowling – President, Power
Generation
- Vivek Dhir – Vice President,
Marketing and Business Development
About SPX Corporation: Based in Charlotte, North Carolina, SPX Corporation is
a leading supplier of highly engineered HVAC products, detection
and measurement technologies and power equipment. With operations
in about 20 countries, SPX Corporation has approximately
$2 billion in annual revenues and
approximately 6,000 employees worldwide. SPX Corporation is listed
on the New York Stock Exchange under the ticker symbol,
"SPXC". For more information, please visit www.spx.com.
Investor Contact:
Paul Clegg, Vice President,
Finance and Investor Relations
Phone: 980-474-3704
E-mail: Paul.Clegg@spx.com
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SOURCE SPX Corporation