SPX Service Solutions Completes Acquisition of Matra-Werke GmbH
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CHARLOTTE, N.C., Oct. 1 -- SPX (NYSE:SPW) Service Solutions today announced it has completed the acquisition of Matra-Werke GmbH, a wholly owned subsidiary of KION Group GmbH located in Wiesbaden, Germany. SPX first announced that it had entered into a definitive agreement to acquire the company on August 29.
"This strategic acquisition complements our portfolio of capabilities to assist our European automobile manufacturers as they grow and expand worldwide," said David Kowalski, President of SPX Service Solutions.
"With the addition of Matra, SPX is well positioned to provide engineering expertise, strong research and development support, a well-established sales network and enhanced distribution channels to our customers," he added.
Matra will be operated as part of SPX Service Solutions' CarTool subsidiary.
SPX Service Solutions, a business unit of SPX Corporation, designs, manufactures and markets a fully integrated family of global brands providing special service tools, advanced diagnostic and shop equipment and technical information for vehicle servicing and maintenance.
SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The company offers highly-specialized engineered solutions to solve critical problems for customers.
SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many environmentally friendly products, includes cooling systems for all types of power plants throughout the world; custom engineered pumps, valves and mixers that assist a variety of flow processes including oil and gas exploration, distribution and refinement; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.
SPX is headquartered in Charlotte, North Carolina and employs more than 14,000 people worldwide in over 20 countries. Visit www.spx.com (NYSE:SPW).
Source: SPX Corporation
CONTACT: Media, Jennifer H. Epstein, +1-704-752-7403, jennifer.epstein@spx.com, both of SPX Corporation
Web site: www.spx.com/
