SPX Completes Acquisition of Gerstenberg Schroder

CHARLOTTE, N.C., Feb. 26 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE: SPW) today announced that it has completed the acquisition of Gerstenberg Schroder A/S, a leading designer, manufacturer, installer and servicer of processing systems and components serving the global food industry. The terms of the transaction were not disclosed.

"The addition of Gerstenberg Schroder strengthens our growing process equipment business by expanding our global food processing technology, equipment offerings and systems capabilities," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "The acquisition also further enhances our design competencies for the turnkey, scalable food processing systems.  Food manufacturers are increasingly seeking these kinds of systems to help optimize the production quality, efficiency, reliability and scale of their operations."

SPX first announced that it had entered into a definitive agreement to acquire Gerstenberg Schroder on January 11, 2010.  Gerstenberg Schroder will operate within SPX's Flow Technology segment.

Privately-held Gerstenberg Schroder had fiscal 2009 revenues of approximately $70 million. The company is a leading supplier of modern, highly efficient processing lines for the manufacture of products such as margarine, butter, spreads and shortening.  In addition, the company supplies emulsified food products such as mayonnaise, sauces and dressings. The company's installations include scraped surface heat exchangers, continuous butter processing lines, emulsification equipment and in-line mixing equipment, and can be found in 120 countries. Headquartered in Denmark with other locations in Germany and other countries, the company's heritage of food industry expertise dates back to the early 1900s.

About SPX

SPX Corporation (NYSE: SPW) is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.

SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company's innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.

With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide. Visit www.spx.com.

Certain statements in this press release including any statements relating to post-acquisition results, 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.  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. Statements in the press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.

SOURCE SPX Corporation

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