SPX Corporation supplies engineered solutions with operations in approximately 35 countries and sales in approximately 150 countries worldwide. The company’s major products include processing systems and components for the food and beverage industry, pumps, valves, and filtration equipment used in oil and gas processing, power transformers used by utility companies, and cooling systems for power generation plants and HVAC applications. Segments Flow Technology This segment engineers, designs, manufactures, and markets products and solutions used to process, blend, filter, dry, meter, and transport fluids with a focus on original equipment installation, including turnkey systems, skidded systems, and components, as well as aftermarket components and support services. Primary component offerings include engineered pumps, valves, mixers, plate heat exchangers, and dehydration and filtration technologies. This segment primarily serves customers in food and beverage, power and energy, and industrial end markets. Core brands include SPX Flow Technology, APV, ClydeUnion, Waukesha Cherry-Burrell, M&J Valves, Copes Vulcan, Lightnin, Anhydro, Gerstenberg Schröder, Seital, e&e, Bran&Luebbe, Johnson Pump, Plenty, Hankison, GD Engineering, Dollinger Filtration, Pneumatic Products, Delair, Deltech, and Jemaco. Channels to market consist of stocking distributors, manufacturers' representatives, and direct sales. Competition: This segment’s competitors include GEA Group AG, Flowserve, Alfa Laval AB, Sulzer, ITT Gould Pumps, and IDEX Corporation. Thermal Equipment and Services This segment engineers, designs, manufactures, installs, and services thermal heat transfer products. Primary offerings include dry, evaporative, and hybrid cooling systems; rotating and stationary heat exchangers; and pollution control systems for the power generation, HVAC, and industrial markets, as well as boilers and heating and ventilation products for the residential and commercial markets. The primary distribution channels for this segment are direct to customers, independent manufacturing representatives, third-party distributors, and retailers. This segment serves a global customer base, with a presence in North America, Europe, and South Africa. This segment's primary power products and services are sold under the brand names of SPX Cooling Systems, Marley, Balcke-Duerr, Ceramic, Yuba, Ecolaire, Recold, and others. This segment's boiler products include a line of gas and oil fired boilers for heating in residential and commercial applications, as well as ancillary equipment. This segment's heating and ventilation product line includes baseboard, wall unit, and portable heaters; commercial cabinet and infrared heaters; thermostats and controls; air curtains; and circulating fans. This segment sells heating and ventilation products under the Berko, Qmark, Farenheat, and Leading Edge brand names. This segment's South African subsidiary has a Black Economic Empowerment shareholder, which holds a noncontrolling 25.1% interest in the subsidiary. Competition: This segment’s major competitors include GEA Group AG; Hamon & Cie; EvapTech, Inc.; Harbin Air Conditioning Co.; Baltimore Aircoil Company; Evapco, Inc.; Thermal Engineering International; Howden Group Ltd.; Siemens AG; and Alstom SA. This segment's primary boiler products competitors are Burnham Holdings, Inc. and Buderus. This segment’s principal competitors include TPI Corporation, Ouellet, King Electric, Systemair Mfg. LLC, Cadet Manufacturing Company, and Dimplex North America Ltd. for heating products; and TPI Corporation, Broan-NuTone LLC, and Airmaster Fan Company for ventilation products Industrial Products and Services and Other This segment sells power transformers and related services into the U.S. transmission and distribution market. The company provides medium transformers (10-100 mega volt ampere) in the United States. It sells transformers under the Waukesha brand name. Customers for this product line are publicly and privately held utilities. Additionally, this segment designs, manufactures, and markets industrial tools and hydraulic units, tower and obstruction lights and monitoring equipment, communications and signal monitoring systems, fare collection systems, and portable cable and pipe locators. The primary distribution channels for this segment are direct to customers, independent manufacturing representatives, and third-party distributors. Competition: The company’s competitors include ABB Ltd.; GE-Prolec; Siemens; Hyundai Power Transformers; Delta Star Inc.; Philadelphia Transformer; SGB-SMIT Group; Virginia Transformer Corporation; Howard Industries, Inc.; and WEG S.A. 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. Dispositions In January 2014, the company completed the sale of its 44.5% interest in EGS Electrical Group, LLC and subsidiaries, which manufactured electrical fittings, hazardous location lighting, and power conditioning products, to Emerson Electric Co. 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 $51.1 on research activities relating to the development and improvement of its products in 2014. Patents/Trademarks The company owns approximately 370 domestic and 250 foreign patents, including approximately 20 patents that were issued in 2014, covering various products and manufacturing methods. History The company was founded in 1911. It was incorporated in Muskegon, Michigan in 1912 as the Piston Ring Company and changed its name to SPX Corporation in 1988.
spx corp (SPW:Munich Stock Exchange)
13320 Ballantyne Corporate Place
Charlotte, NC 28277
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