Company to repurchase up to 3.0 million shares
CHARLOTTE, N.C., Sept. 19 /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 3.0 million shares of its common stock
on or before October 30, 2009, in accordance with a share repurchase
program authorized by its Board of Directors. Trading under this plan is
scheduled to begin no sooner than November 3, 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 http://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 our public filings for a discussion of certain important
factors that relate to forward-looking statements contained in this press
release. The word "scheduled" and similar expressions identify
forward-looking statements. 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.
SOURCE SPX Corporation
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Related links:
http://www.spx.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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