SPX Completes Sale of Service Solutions Business to Robert Bosch GmbH for Approximately $1.15 Billion

  SPX Completes Sale of Service Solutions Business to Robert Bosch GmbH for
                         Approximately $1.15 Billion

PR Newswire

CHARLOTTE, N.C., Dec. 3, 2012

CHARLOTTE, N.C., Dec.3, 2012 /PRNewswire/ --SPX Corporation (NYSE: SPW)
today announced that it has completed the sale of its SPX Service Solutions
business to Robert Bosch GmbH for approximately $1.15 billion, subject to
working capital adjustments. The expected net proceeds of the acquisition are
approximately $1 billion. SPX Corporation has reported this business unit as a
discontinued operation since the first quarter of 2012.

With the divestiture of SPX Service Solutions, SPX has exited its roots in the
automotive industry in order to focus on growing the company's Flow Technology

"On behalf of our Board of Directors and senior management team, I would like
to again thank everyone at SPX Service Solutions for their many years of
service and dedication, and take this opportunity to wish them all much future
success under their new ownership," said Christopher J. Kearney, Chairman,
President and Chief Executive Officer of SPX. "Moving forward, our Flow
Technology segment will serve as the company's foundation and core growth
engine, and our efforts will be focused on continuing to expand our presence
in the global food and beverage, oil and gas and industrial markets."

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global
Fortune 500 multi-industry manufacturing leader with over $5 billion in annual
revenue, operations in more than 35 countries and over 15,000 employees. The
company's highly-specialized, engineered products and technologies are
concentrated in Flow Technology and energy infrastructure. Many of SPX's
innovative solutions are playing a role in helping to meet rising global
demand for electricity and processed foods and beverages, particularly in
emerging markets. The company's products include food processing systems for
the food and beverage industry, power transformers for utility companies, and
cooling systems for power plants. For more information, please visit

SOURCE SPX Corporation

Website: http://www.spx.com
Contact: Ryan Taylor (Investors), +1-704-752-4486, investor@spx.com, Jennifer
H. Epstein (Media), +1-704-752-7403 or +1-704-804-3717,
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