SPX sells units to bolster balance sheet.
| Position | CHARLOTTE - Brief Article |
Charlotte-based industrial conglomerate SPX plans to pay down debt and buy back equity with more than $1.8 billion from the sale of two units. It agreed to sell its Edwards Systems Technology business, which makes fire-detection and communication systems, to Fairfield, Conn.-based General Electric for $1.4 billion. It also agreed to sell BOMAG, which makes equipment used in soil, asphalt and refuse compaction, to Fayat, a French maker of...
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