SPX announces sale of EGS Electric stake to Emerson Electric for $571 million
SPX Corp, which makes food and beverage production equipment, electrical transformers and cooling towers for power plants announced sale of 44.5 % stake in EGS Electric Group LLC to partner Emerson Electric Co for $571 million.
576492c356d8e0278dfa7b752bad5bc8
SPX Corp, which makes food and beverage production equipment, electrical transformers and cooling towers for power plants announced sale of 44.5 % stake in EGS Electric Group LLC to partner Emerson Electric Co for $571 million.
North Carolina-based SPX, stated it expects the sale to close in the first quarter of 2014.
Emerson Electric produces industrial controls, power supplies and home-storage equipment, The company set up EGS Electric in 1997 with SPX, which manufactures electrical fittings, hazardous location lighting and power conditioning equipment.
Source: Reuters
#EGS shares sold#Emerson sale#SPX Emerson#SPX sale#SPX sale EGS Electric#SPX sells EGS share