SPX´s Lightnin Business Acquires the Plenty Group
MUSKEGON, Mich., Sept. 11 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Lightnin business has acquired the assets and the ongoing business operations of the Plenty Group from Smiths Group plc.
Plenty
has annual revenues of more than $50 million. Terms of the agreement were not
disclosed.
Plenty is a global manufacturer of mixers, pipeline products, pumps and
filters used in a range of applications servicing the oil and gas, chemical,
water and other industries. Headquartered in Newbury, UK, Plenty has
operations throughout the world.
Lightnin is the leading supplier of fluid process systems, solutions and
technologies throughout the world. Lightnin equipment is used in major
process industries, including pharmaceutical and biotechnology, minerals, food
and beverage, cosmetics and chemicals.
Commenting on today's announcement, John B. Blystone, Chairman, President
and Chief Executive Officer said, "We continue to focus on profitably growing
our businesses including acquisitions like Plenty. This transaction expands
Lightnin's products and technology allowing them to leverage their existing
portfolio to a broader systems-based initiative. The addition of Plenty will
strengthen our European presence and provide opportunities to offer enhanced
services and solutions to our global customers."
SPX Corporation is a global provider of technical products and systems,
industrial products and services, flow technology, and service solutions.
Source: SPX Corporation
