MUSKEGON, Mich., Sept. 11, 2001 — SPX Corp. 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. The Internet address for SPX Corporation's home page is www.spx.com .
