AEVEX Raises $320 Million in IPO Amid Surging Defense Sector Demand 
Chinese Robotics Stocks React as Humanoid Robot Marathon Sparks Competition Concerns 
Daikin Industries Stock Surges 14% After Elliott Investment Management Discloses Major Stake 
Tesla's Terafab: AI Chip Factory Eyes Taiwan's Semiconductor Talent 
NiSource Signs Long-Term Energy Deals with Alphabet and Amazon to Power Indiana Data Centers 
JAPEX Shares Drop as Middle East Tensions Drive LNG Costs and Production Risks 
TSMC Posts Record Q1 Profit Fueled by AI Chip Demand 
NVIDIA Acquisition Rumors Dismissed by Morgan Stanley as Strategically Flawed 
Japan to Subsidize Sony's Image Sensor Plant in Kumamoto with $380 Million 
How Technology Is Reshaping Modern Business: From Operations to Customer Experience 
Indian Refiners Use Yuan via ICICI Bank to Pay for Iranian Oil Under U.S. Sanctions Waiver 
OpenAI's $20 Billion Cerebras Deal Signals Massive AI Infrastructure Push 
Polymarket Seeks $400M Funding Round, Targets $15B Valuation Amid Prediction Market Boom 
China Food Delivery Stocks Dip as Regulators Crack Down on “Ghost Deliveries” 
CATL Stock Hits Record High After Q1 2025 Earnings Surge 
Indonesia and Toyota Explore $300M Bioethanol Investment to Boost Renewable Energy Goals 
Greg Abel Sells Berkshire Hathaway Stocks Managed by Former Investment Manager Todd Combs 
CHARLOTTE, N.C., March 30, 2016 -- SPX Corporation (NYSE:SPXC) today announced that it has completed the sale of its Dry Cooling business to Paharpur Cooling Towers Limited (“Paharpur”). Pre-tax proceeds were approximately $48 Million.
About SPX Corporation: Based in Charlotte, North Carolina, SPX Corporation is a leading supplier of highly engineered HVAC products, detection and measurement technologies and power equipment. With operations in about 20 countries, SPX Corporation had approximately $1.7 billion in annual revenues and approximately 6,000 employees worldwide in 2015. SPX Corporation is listed on the New York Stock Exchange under the ticker symbol, “SPXC.” For more information, please visit www.spx.com.
About Paharpur: Headquartered in Kolkata, India, Paharpur is a leading cooling solution provider with global operations. The Company’s business interests include cooling towers, air cooled heat exchangers, air cooled condensers and flexible packaging. The Company has five manufacturing facilities in India serving the global markets.
Certain statements in this press release are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please read this press release in conjunction with the company's documents filed with the Securities and Exchange Commission, including the company's annual reports on Form 10-K, and any amendments thereto, and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. Actual results may differ materially from these statements. The words “believe,” "expect," "anticipate," "project" and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. In addition, estimates of future operating results are based on the company's current complement of businesses, which is subject to change. Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.
Investor Contact: Paul Clegg, Vice President, Finance and Investor Relations Phone: 980-474-3806 E-mail: [email protected] Media and Customer Contact: Vivek Dhir, Vice President, Global Marketing and Business Development Phone: 980-474-3703 Email: [email protected]
