23 Oct SPX Completes Sale of Filtran Business Unit
CHARLOTTE, N.C. /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 www.spx.com. (NYSE: SPW)
Madison Capital Partners, a Chicago based investment firm, acquires and grows industrial manufacturing companies.
SOURCE SPX Corporation