- American City Business Journals•21 days ago
SPX Corp. plans to sell its European power-generation operations as weak segments of its power business continue to undermine strong performance in its other business divisions. CEO Gene Lowe told analysts during an earnings call Thursday evening that SPX’s transformer segment in power remains strong. SPX reported a second-quarter net loss of $14.1 million, or 34 cents per share, on revenue totaling $412.9.
- Associated Press•21 days ago
On a per-share basis, the Charlotte, North Carolina-based company said it had a loss of 34 cents. Losses, adjusted to account for discontinued operations, were 33 cents per share. The infrastructure equipment ...
- American City Business Journals•5 months ago
SPX Corp. says it has completed the $48 million sale of its dry-cooling tower business to Paharpur Cooling Towers Ltd. of West Bengal, India. The deal is the first of what is expected to be a number of sales of underperforming businesses in SPX Corp.’s power division. In February, CEO Gene Lowe said his company had hired an adviser to “help us assess strategic alternatives for portions of our Power Generation business.” The decision to divest some divisions comes shortly after SPX Corp. spun off its SPX Flow business as a separate publicly traded company in September.
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