spx corp (SPW) Key Developments
SPX Corporation Secures Contract to Provide Infant Formula Drying System for Plant in India
Oct 2 14
SPX Corporation announced that it has been awarded a contract worth more than $10 million from a leading global producer of infant formula to expand its drying plant in India. Under the terms of the contract, SPX will provide an infant formula spray drying system featuring an array of homogenizers, heat exchangers, pumps, valves, atomizers and air filtration equipment from SPX. The plant is expected to produce a variety of dairy-based infant food products. The SPX spray drying system will utilize its Triple-A(R) spray dryer, recommended for agglomerated powders that are easy to disperse and dissolve. Powder manufacturers are facing increasingly rigid quality demands requiring full control over powder structures and functional properties. SPX's Triple-A(R) spray dryers are customizable to ensure consistent end-product quality, while also providing complete control over a plant's production run-time, yield, and operating costs. The core SPX technology and control system will be designed and managed from SPX's global design centre in Denmark. All other mechanical and electrical installations will be managed by SPX's local team in India to help ensure that the project complies with all local standards and is completed on time.
SPX Corporation Presents at Morgan Stanley 2nd Annual Laguna Conference, Sep-16-2014 08:35 AM
Sep 12 14
SPX Corporation Presents at Morgan Stanley 2nd Annual Laguna Conference, Sep-16-2014 08:35 AM. Venue: Ritz-Carlton, Laguna Niguel Dana Point, California, United States. Speakers: Christopher J. Kearney, Chairman, Chief Executive Officer and President.
SPX Considers Acquisitions
Sep 9 14
SPX Corporation (NYSE:SPW) will seek acquisitions. On being asked about opportunity to build out through M&A and opportunities in Food and Beverage business, David Wilson, President of SPX said, "It is an area in the future that we think acquisition opportunities are very interesting because it probably has less focus than particularly our Flow Power and Energy space as it relates to the other large flow players globally. It is probably more fragmented and there's more opportunities overtime. So we're not active though we're paying attention to what's going on in the market and at some point in the future we'll come back to the market and we'll talk about being ready to get back into the acquisition game."
SPX Wins $50 Million Order to Provide ClearSky(TM) Cooling Towers for a Coal Liquefaction Process Facility in China
Sep 5 14
SPX Corporation announced that it was awarded an order valued at approximately $50 million to provide ClearSky(TM) Plume Abatement Cooling Systems for a coal liquefaction process facility to be built by Shenhua Ningxia Coal Industry Group. SPX has agreed to provide SPX Marley ClearSky(TM) Plume Abatement Systems, with the latest cooling technology of recycling of condensed steam, for Shenhua's indirect coal liquefaction process facility to be built in the Lingwu Ning Dong coal chemical industry. This facility is expected to process approximately four million tons of indirect coal liquefaction per year.
SPX Corporation Elects Robert F. Hull to Board of Directors
Aug 21 14
SPX Corporation announced that its Board of Directors has elected Robert F. Hull, Jr. as an additional member of the company's Board of Directors. Mr. Hull will stand for re-election at the company's 2015 Annual Meeting for a term expiring in 2018. Mr. Hull, 50, has served as Chief Financial Officer of Lowe's Companies Inc. since March 2003. He joined Lowe's in 1999 as Vice President of Financial Planning and Analysis. Mr. Hull also currently serves on the Board of Trustees of the University of North Carolina at Charlotte. Mr. Hull's more than 25 years of financial expertise, including deep knowledge and experience with financial statement analysis, tax matters, supply chain efficiencies and investor relations, will benefit the Board's collective efforts aimed at helping to advance SPX's long-term growth opportunities and delivering enhanced shareholder value.