{"id":1530,"date":"2025-07-22T19:05:51","date_gmt":"2025-07-22T19:05:51","guid":{"rendered":"https:\/\/live-spx-corp.pantheonsite.io\/?p=1530"},"modified":"2025-08-04T12:48:44","modified_gmt":"2025-08-04T12:48:44","slug":"spx-to-exit-heat-transfer-business","status":"publish","type":"post","link":"https:\/\/spx.com\/fr\/spx-to-exit-heat-transfer-business\/","title":{"rendered":"SPX to Exit Heat Transfer Business"},"content":{"rendered":"

Selling Brands and Technology to Godrej & Boyce Manufacturing Co Ltd
\nUpdating 2018 Guidance for Impact<\/strong><\/p>\n

CHARLOTTE, N.C.,\u00a0July 02, 2018\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) announced today that it is exiting the Heat Transfer business within its Engineered Solutions segment.\u00a0 As part of the exit, SPX has sold its Yuba\u00ae and Ecolaire\u00ae brands and the technology of its Heat Transfer business to\u00a0Godrej & Boyce Manufacturing Co Ltd, a private industrial conglomerate based in\u00a0India. \u00a0SPX anticipates winding down its remaining Heat transfer operations by the end of Q1 2019.<\/p>\n

Gene Lowe, President and Chief Executive Officer of SPX commented, \u201cExiting the Heat Transfer business substantially completes the reshaping of our Engineered Solutions segment and our move away from power generation-focused businesses.\u00a0 We anticipate seeing a return to revenue growth in this segment in 2019.\u201d<\/p>\n

SPX intends to exclude the results of Heat Transfer from its 2018 adjusted results and is updating 2018 guidance accordingly.\u00a0 Core revenue* is now expected to be\u00a0$1.38-$1.43 billion\u00a0(from\u00a0$1.40-1.45 billion\u00a0prior).\u00a0 There is no impact to current Adjusted EPS guidance of\u00a0$2.15-$2.25\u00a0given the limited effect of Heat Transfer on SPX\u2019s net profitability.<\/p>\n

About\u00a0SPX Corporation<\/strong>:\u00a0\u00a0SPX Corporation\u00a0is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in\u00a0Charlotte, North Carolina,\u00a0SPX Corporation\u00a0had approximately\u00a0$1.4 billion\u00a0in annual revenue in 2017 and more than 5,000 employees in 14 countries.\u00a0SPX Corporation\u00a0is listed on the\u00a0New York Stock Exchange\u00a0under the ticker symbol \u201cSPXC.\u201d<\/p>\n

*Core results exclude the results of our South African projects.<\/p>\n

Non-GAAP Information<\/strong>: The guidance presented in this release, \u201cCore revenue,\u201d \u201cEngineered Solutions\u2019 Core segment income margin,\u201d and \u201cAdjusted earnings per share,\u201d are non-GAAP financial measures and are calculated by the company in a manner consistent with the presentation of such measures as included in its\u00a0May 3, 2018\u00a0press release announcing the results of operations for the first quarter of 2018. Core revenue, Engineered Solutions\u2019 Core segment income margin, and Adjusted earnings per share exclude items, which would be included in our financial measures presented in accordance with\u00a0United States\u00a0generally accepted accounting principles (\u201cGAAP\u201d), that we do not consider indicative of our on-going performance. These items include, but are not limited to, acquisition costs, costs associated with dispositions, the results of our South African projects, and potential non-cash income or expense items associated with changes in market interest rates and actuarial or other data related to our pension and postretirement plans, as the ultimate aggregate amounts associated with these items are out of our control and\/or cannot be reasonably predicted. Because of the forward-looking nature of the estimated range of Core revenue, Engineered Solutions\u2019 Core segment income margin and Adjusted earnings per share, it is impractical to present a quantitative reconciliation of such measures to a comparable GAAP measure, and accordingly no such GAAP measure is being presented.<\/p>\n

Certain statements in this press release, including the Core revenue guidance, Engineered Solutions\u2019 Core segment income margin guidance and Adjusted earnings per share guidance, 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. These forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from future express or implied results. Particular risks facing SPX include risks relating to market specific cycles and weather related fluctuations; economic, business, and other risks stemming from changes in the economy; legal and regulatory risks; cost of raw materials; pricing pressures; our reliance on U.S. revenues and international operations; its 2015 spin-off transaction; the effectiveness, success, and timing of restructuring plans; its ability to manage changes and measure and estimate the expected revenue and cost associated with our power projects in\u00a0South Africa; pension funding requirements; liabilities retained in connection with dispositions; and integration of acquisitions and achievement of anticipated synergies. More information regarding such risks can be found in SPX\u2019s most recent annual report on Form 10-K and quarterly report on Form 10-Q. 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\u2019s current complement of businesses, which is subject to change.<\/p>\n

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.<\/p>\n

SOURCE\u00a0SPX Corporation.<\/p>\n

Investor and Media Contacts:\u00a0<\/strong>
\n<\/strong>Mark A. Carano, vice-pr\u00e9sident, directeur financier et tr\u00e9sorier
\nPhone: 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

Pat Uotila, Manager, Investor Relations
\nPhone: 980-474-3806
\nE-mail:\u00a0spx.investor@spx.com<\/a><\/p>\n

 <\/p>\n

\"Primary<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Selling Brands and Technology to Godrej & Boyce Manufacturing Co Ltd Updating 2018 Guidance for Impact CHARLOTTE, N.C.,\u00a0July 02, 2018\u00a0(GLOBE NEWSWIRE) —\u00a0SPX Corporation\u00a0(NYSE:SPXC) announced today that it is exiting the Heat Transfer business within its Engineered Solutions segment.\u00a0 As part of the exit, SPX has sold its Yuba\u00ae and Ecolaire\u00ae brands and the technology of […]<\/p>","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[26],"tags":[],"dipi_cpt_category":[],"class_list":["post-1530","post","type-post","status-publish","format-standard","hentry","category-general"],"acf":[],"yoast_head":"\nSPX to Exit Heat Transfer Business - SPX Technologies in Charlotte, NC<\/title>\n<meta name=\"description\" content=\"SPX exits the heat transfer market to sharpen focus on high-growth technology platforms.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/spx.com\/fr\/spx-to-exit-heat-transfer-business\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SPX to Exit Heat Transfer Business - 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