SPX Corporation supplies infrastructure equipment with growth platforms in heating, ventilation and air conditioning (HVAC) and detection and measurement markets; and a presence in power and energy markets worldwide. Segments The company operates through three segments: HVAC, Detection and Measurement, and Power. HVAC This segment engineers, designs, manufactures, installs and services cooling products for the HVAC and industrial markets, as well as heating and ventilation products for the residential and commercial markets. The primary distribution channels for this segment’s products are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. This segment primarily serves a North American customer base. Core brands for the company’s cooling products include Marley and Recold, with the major competitors to these products being Baltimore Aircoil Company and Evapco. The company’s heating and ventilation products are sold under the Berko, Qmark, Farenheat, and Leading Edge brands, while its Marley-Wylain subsidiary sells Weil-McLain and Williamson-Thermoflo brands. Major competitors to these products are TPI Corporation, Quellet, King Electric, Systemair Mfg. LLC, Cadet Manufacturing Company, and Dimplex North America Ltd for heating products; Burnham Holdings, Inc, and Buderus for boiler products; and TPI Corporation, Broan-NuTone LLC and Airmaster Fan Company for ventilation products. Detection and Measurement This segment engineers, designs, manufactures, and installs underground pipe and cable locators and inspection equipment, bus fare collection systems, communication technologies, and specialty lighting. The primary distribution channels for this segment’s products are direct to customers and third-party distributors. This segment serves a global customer base, with a major presence in North America, Europe, and Asia. Core brands for the company’s underground pipe and cable locators and inspection equipment are Radiodetection, Pearpoint, and Warren G-V, while its bus fare collection systems, communication technologies, and specialty lighting are sold under the Genfare, TCI, and Flash Technology brand names, respectively. Power This segment engineers, designs, manufactures, installs, and services dry, evaporative and hybrid cooling products, rotating and stationary heat exchangers, and pollution control systems for the power generation market; and transformers for the power transmission and distribution market. The primary distribution channels for this segment’s products are direct to customers and third-party representatives. This segment serves a global customer base, with a major presence in North America, Europe, the Asia Pacific, and South Africa. The company’s primary power products are sold under the brand names of SPX Cooling, Marley, Balcke Duerr, Yuba, and Ecolaire, with major competitors to these products and service lines being Enexio, Hamon & Cie, Thermal Engineering International, Howden Group Ltd, Siemens AG, and Alstom SA. The company is a major provider of medium transformers (10 - 100 MVA) in the United States. The company sells transformers under the Waukesha brand name. Typical customers for this product line are publicly and privately held utilities. The company’s competitors in this market include ABB Ltd., GE-Prolec, Siemens, Hyundai Power Transformers, Delta Star Inc., Philadelphia Transformer, SGB-SMIT Group, Virginia Transformer Corporation, WEG S.A., and Howard Industries, Inc. This segment's South African subsidiary has a Black Economic Empowerment shareholder, which holds a noncontrolling 25.1% interest in the subsidiary. Joint Ventures The company has a joint venture with the Shanghai Electric Group Co., Ltd. (Shanghai Electric), in which the company holds a 45% interest. Shanghai Electric controls and operates the joint venture, which supplies dry cooling and moisture separator reheater products primarily to the power sector in China. Strategy The company’s strategy includes outsourcing certain components and sub-assemblies to other companies where strategically and economically beneficial. Research and Development The company expensed $30.4 of research activities relating to the development and improvement of its products in 2015. Patents/Trademarks The company owns approximately 180 domestic and 140 foreign patent ‘families’, including approximately 7 patents that were issued in 2015, covering various products and manufacturing methods. History The company was founded in 1911. It was incorporated in Muskegon, Michigan in 1912. The company was formerly known as Piston Ring Company and changed its name to SPX Corporation in 1988.
spx corp (SPW:Munich Stock Exchange)
13320-A Ballantyne Corporate Place
Charlotte, NC 28277
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