Nov. 12, 2014: SPX Announces Plan for Spin-Off of Its Flow Business
This Move Will Result in Two Standalone Companies
CHARLOTTE, N.C. — SPX Corp. announced that its board of directors has unanimously approved a plan for a tax-free spin-off of its Flow business into a new standalone, publicly traded company. This transaction is expected to be completed within 12 months.
Upon completion of the spin-off, the Future Flow Company will be an independent company providing highly engineered technologies and services to customers in the global power and energy, food and beverage, and industrial markets. Chris Kearney will serve as chairman, president, and chief executive officer of the Future Flow Company upon completion of the transaction.