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SPX exits heat transfer business

Jul. 02, 2018 7:18 AM ETSPX Technologies, Inc. (SPXC) StockBy: Yoel Minkoff, SA News Editor
  • As part of the exit, SPX Corp. (NYSE:SPXC) has sold its Yuba and Ecolaire brands and the technology of its Heat Transfer division to Godrej & Boyce Manufacturing, a private industrial conglomerate based in India.
  • "Exiting the Heat Transfer business substantially completes the reshaping of our Engineered Solutions segment and our move away from power generation-focused businesses," said CEO Gene Lowe.
  • Core revenue is now expected to be $1.38B-$1.43B (from $1.40B-1.45B prior).
  • There is no impact to current Adjusted EPS guidance of $2.15-$2.25 given the limited effect of Heat Transfer on SPX's net profitability.

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