“The closing of the sale of Balcke-Dürr marks an important milestone along our value creation roadmap and positions the company to further strengthen our focus on growth,” said Gene Lowe, president and CEO of SPX.
“This is the latest in a series of actions that we have taken to reposition our Power segment and our company by exiting or restructuring businesses that did not have a clear path to drive shareholder value and masked our true earnings power. As we enter 2017 we remain focused on initiatives to further enhance operational performance and are increasing our efforts to drive both organic and inorganic growth within our strategic platforms.”