SPX to Divest Crawford United's Industrial & Transportation Products Segment

Upon closing the acquisition, SPX intends to sell Crawford United's non-core Industrial & Transportation Products segment, which serves aerospace, defense, transportation, and marine markets. These businesses will be recorded as assets held for sale while SPX identifies suitable buyers.

“Crawford United’s Industrial & Transportation Products segment, which includes an attractive portfolio of businesses serving aerospace, defense, transportation, and marine markets, is noncore to SPX’s long-term strategy. These non-core businesses will be recorded by SPX as assets held for sale, with their results reported as discontinued operations while the Company executes its plan to sell these businesses, including identifying a suitable buyer(s).”

Signals are extracted from public coverage and print archives and pinned to a verbatim quote, presented as reported by their sources; naming a company in a signal is not an accusation against it. The verified mark denotes a high-confidence, corroborated signal. See our methodology and legal notes.