- 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.