CHARLOTTE, N.C., Oct. 1 /PRNewswire-FirstCall/ -- SPX (NYSE: SPW)
Service Solutions today announced it has completed the acquisition of
Matra-Werke GmbH, a wholly owned subsidiary of KION Group GmbH located in
Wiesbaden, Germany. SPX first announced that it had entered into a
definitive agreement to acquire the company on August 29.
"This strategic acquisition complements our portfolio of capabilities
to assist our European automobile manufacturers as they grow and expand
worldwide," said David Kowalski, President of SPX Service Solutions.
"With the addition of Matra, SPX is well positioned to provide
engineering expertise, strong research and development support, a
well-established sales network and enhanced distribution channels to our
customers," he added.
Matra will be operated as part of SPX Service Solutions' CarTool
subsidiary.
SPX Service Solutions, a business unit of SPX Corporation, designs,
manufactures and markets a fully integrated family of global brands
providing special service tools, advanced diagnostic and shop equipment and
technical information for vehicle servicing and maintenance.
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 more than
14,000 people worldwide in over 20 countries. Visit http://www.spx.com (NYSE:
SPW).
Certain statements in this press release, including any statements as
to future results of operations or market opportunities, 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 words "believe," "expect,"
"anticipate," "estimate," "guidance," "target" 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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