October 5, 2009 (FinancialWire) — SPX Corp. (NYSE: SPW) said it has entered into a definitive agreement to sell its interest in Filtran, a company that offers automotive filtration solutions, to Madison Capital Partners, for an undisclosed price.

The financial results for the company’s Filtran business unit have been reported as discontinued operations since the fourth quarter 2008. The sale is scheduled to be completed by the end of the fourth quarter 2009.

Charlotte, North Carolina-based SPX is a multi-industry manufacturing firm whose product portfolio includes cooling systems for power plants and engineered process equipment used in a range of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation.

The company also makes handheld diagnostic tools used to aid in vehicle maintenance and repair, and power transformers that regulate voltage for electrical transmission and distribution by utility companies.

FinancialWire(tm) is a fully independent, proprietary news wire service. FinancialWire(tm) is not a press release service, and receives no compensation for its news, opinions or distributions. Further disclosure is at the FinancialWire(tm) web site (http://www.financialwire.net/disclosures.php). Contact FinancialWire(tm) directly via inquiries@financialwire.net.

Free annual reports for companies mentioned in the news are available through the Free Annual Reports Service (http://investrend.ar.wilink.com/?level=279).

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.