SPX Corporation (SPW)

SPX Corporation provides flow technology products, test and measurement products, thermal equipment and services, and industrial products and services in the United States and internationally. Its Flow Technology segment designs, manufactures, and markets products and solutions for processing or transporting fluids, and products for heat transfer applications. This segment offers pumps, valves, fluid mixers, agitators, metering systems, filters, and dehydration equipment for the sanitary; food, beverage, and pharmaceutical processing; general industrial; chemical processing; oil and gas processing; power generation; and mining markets. The company's Test and Measurement segment provides test and measurement products, such as specialty diagnostic service tools, fare collection systems, portable cable and pipe locators, and vibration testing equipment for the transportation, defense, telecommunications, and utility industries. SPX's Thermal Equipment and Services segment manufactures cooling, heating, and ventilation products, including dry, wet, and hybrid cooling systems for the power generation, refrigeration, HVAC, and industrial markets, as well as hydronic and heating and ventilation products for the commercial and residential markets. This segment also provides thermal components and engineered services. The company's Industrial Products and Services segment offers power transformers for utilities, as well as industrial tools and hydraulic units, and precision machine components for the aerospace industry; crystal growing machines for the solar power market; automatic transmission filters; and television and radio broadcast antenna systems. SPX has a joint venture with Emerson Electric Co., which manufactures electrical fittings, hazardous location lighting, and power conditioning products. The company was founded in 1911. It was formerly known as Piston Ring Company and changed its name to SPX Corp. in 1988. SPX is headquartered in Charlotte, North Carolina.

For the nine months ended 30 September 2006, SPX Corp.'s revenues rose 10% to $3.05B. Net income from cont. ops. totaled $137.9M, vs. a loss of $14.6M. Revenues reflect organic revenue growth and completed acquisitions and positive impact of currency fluctuations. Net income also reflects a decrease in intangible amortization expense, lower interest expense, decreased special charges and the absence of loss on early extinguishment of debt.