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[January 2008]
SPX Corporation Completes Acquisition of APV
SPX Corporation (Charlotte, NC, USA) has completed the acquisition of APV, a global manufacturer of process equipment and engineered solutions primarily for the sanitary market.
"The acquisition of APV greatly enhances our process equipment operations serving key markets around the world, particularly in Europe and Asia Pacific," said Chris Kearney, Chairman, President and CEO of SPX. "With APV's broad spectrum of proven process solutions, rich heritage of innovation and wealth of engineering expertise, we are better positioned than ever to capitalize on the growing global demand for flow technology products and solutions," he added.
APV was previously a division of Invensys PLC, an international industrial automation, transportation and controls group headquartered in London. APV's primary products include pumps, valves, heat exchangers and homogenisers for the food, dairy, beverage and pharmaceutical industries.
SPX first announced that it had entered into a definitive agreement to acquire APV on 31 October 2007. APV will be operated as part of SPX's flow technology segment.
SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing world-wide 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.
The company employs over 17,000 people world-wide in over 30 countries
www.spx.com
ENDS