SPX Completes Acquisition of Marine and Obstruction Lighting Business of Carmanah

Star InactiveStar InactiveStar InactiveStar InactiveStar Inactive
 

SPX Completes Acquisition of Marine and Obstruction Lighting Business of Carmanah 

SPX Corporation (NYSE:SPXC) announced today that it has completed the acquisition of the Sabik Marine and obstruction lighting business of Carmanah Technologies Corporation. The results of the purchased business will be reported with SPX’s Communication Technologies businesses within its Detection & Measurement segment. The acquisition is expected to be modestly accretive to SPX’s 2019 Adjusted EPS. 

“We are excited to welcome the Sabik team to SPX,” said Gene Lowe, President and CEO of SPX Corporation. “This acquisition expands and strengthens our position in aids-to-navigation specialty lighting solutions. We believe Sabik’s highly-engineered technology and products are an excellent fit with SPX’s portfolio of communication technologies solutions, and will provide significant value creation for our shareholders.” 

Read more here


Image
© 2019 Sabik Marine. All Rights Reserved. Sabik Marine is a subsidiary of SPX Corporation.