CHARLOTTE, N.C., Feb. 25 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced that it has been named to Corporate
Responsibility Officer (CRO) magazine's 100 Best Corporate Citizens 2008,
an annual scorecard recognizing excellence in corporate responsibility
efforts.
SPX was ranked #100 on this year's list, which includes some of the
best- known companies in the world, including Bank of America Corp.,
Coca-Cola Co., IBM Corp., Intel Corp. and Nike Inc. One of the company's
strongest scores was in the financial category, which evaluates the
three-year return on investment in the company stock based on Morningstar
rankings.
"SPX is honored to have earned this important distinction and to have
been recognized by CRO for our corporate social responsibility efforts
around the world," said Chris Kearney, Chairman, President and Chief
Executive Officer of SPX. "Our inclusion in this well-respected scorecard
is a testament to the dedicated contributions of our employees and our
ongoing commitment to transparency, world class corporate governance and
accountability as a good corporate citizen. It also reflects the
advancements we have made in developing and introducing innovative,
environmentally-friendly solutions for our customers."
Now in its ninth year, the 100 Best Corporate Citizens 2008 list ranks
Russell 1000 companies' corporate responsibility efforts in eight key
areas: Climate Change, Employee Relations, Environment, Financial,
Governance, Human Rights, Lobbying and Philanthropy. CRO developed this
year's rankings based on an evaluation methodology that relies on the
actual comparisons of companies within categories and based on predefined
criteria. The researchers also relied solely on data derived only from
publicly available sources on the theory that transparency is a basic
principle of the Corporate Responsibility profession. CRO worked in
partnership with IW Financial, a Portland, Maine, research and consulting
firm, to determine the rankings. More information on CRO's 100 Best
Corporate Citizens 2008 can be found at http://www.thecro.com.
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 all
types of power plants throughout the world; custom engineered pumps, valves
and mixers that assist a variety of flow processes including oil and gas
exploration, distribution and refinement; 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 over
17,000 people worldwide in over 30 countries. Visit http://www.spx.com.
SOURCE SPX Corporation
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Related links:
http://www.spx.com
http://www.thecro.com
CONTACT:
Investors, Jeremy W. Smeltser,
+1-704-752-4478, investor@spx.com, or Media, Jennifer H. Epstein,
+1-704-752-7403, jennifer.epstein@spx.com, both of SPX
Corporation
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