SPX out of security biz
By L. Samuel Pfeifle
Updated Sun January 1, 2006
CHARLOTTE, N.C.--With the sale of Vance International to Garda World Security in November, SPX Corp., a global publicly held company with annual sales of $3.7 billion, is now officially out of the security game.
"We don't have anything left that's directly in the security market," confirmed media relations head Tina Betlejewski. "The focus now would be on our three core segments: flow technology, test and measurement, and thermal equipment and services." SPX at the end of November acquired German specialty-tool manufacturer CarTool, a company with $70 million in yearly revenues.
SPX started to remove itself from the security industry in March of 2005 when it sold Edwards Systems Technology to GE for $1.4 billion in March of 2005.
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