SPX Acquires AUTOBOSS

Company Will Broaden Product Portfolio and Service Capabilities in Asia
Pacific

SHANGHAI, China, Sept. 2 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced that its Service Solutions business unit has
completed its acquisition of AUTOBOSS Tech, Inc., a Shenzhen, China-based
manufacturer of diagnostic tools and equipment serving China's fast growing
vehicle maintenance and repair market.
"This investment further underscores our commitment to accelerate growth
and expand our business in strategic markets, China in particular," said David
J. Wilson, President of SPX Service Solutions, Asia Pacific. "The leaders of
AUTOBOSS have developed an outstanding brand that we will leverage to expand
our aftermarket business in China and across the region. We are pleased the
leadership team has committed to continue working with us.
"AUTOBOSS broadens our product portfolio, adds extensive channel coverage
and gives our global engineering team a great opportunity to accelerate the
development of our next generation diagnostics tools," Wilson added.
"It was a pleasure to work with SPX on this transaction," said David Wen,
former President of AUTOBOSS. "I am very pleased to know that the company I
created will be run under SPX's capable leadership and that my former
employees will have solid career opportunities ahead of them."
"My team can now fulfill their vision to become the premier service
solutions provider in the region," added Wen, who has agreed to remain on as a
consultant to SPX.
The terms of the transaction were not disclosed.
SPX Service Solutions, a business unit of SPX headquartered in Southfield,
Michigan and with offices around the world, designs, manufactures and markets
a fully integrated family of global brands providing special service tools,
advanced diagnostic and shop equipment and technical information for vehicle
servicing and maintenance.
SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The
company offers highly-specialized engineered solutions to solve critical
problems for customers.
SPX is focused on providing solutions that support the expansion of global
infrastructure, with particular emphasis on the growing worldwide demand for
energy and power. Its innovative product portfolio, containing many
environmentally friendly products, includes cooling systems for power plants
throughout the world; custom engineered process equipment that assists a
variety of flow processes including food and beverage manufacturing, oil and
gas exploration, distribution and refinement and power generation; handheld
diagnostic tools that aid in vehicle maintenance and repair; and power
transformers that regulate voltage for electrical transmission and
distribution by utility companies.
SPX is headquartered in Charlotte, North Carolina and employs more than
17,000 people worldwide in over 35 countries. Visit www.spx.com . (NYSE: SPW)
Certain statements in this press release, including any statements as to
the results of the transaction, benefits and synergies of the proposed
transaction, and future results of operations or market opportunities, may be
forward-looking statements within the meaning of Section 21E of the Securities
Exchange Act of 1934, as amended, and are subject to the safe harbor created
thereby. Please refer to our public filings for a discussion of certain
important factors that relate to forward-looking statements contained in this
press release. Other risks include difficulties in integrating the business or
in achieving synergies and failure to achieve anticipated financial results
from the transaction. Although the company believes that the expectations
reflected in its forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to be correct. Statements in the
press release speak only as of the date of this press release, and SPX
disclaims any responsibility to update or revise such statements.
SOURCE SPX Corporation

Jeremy W. Smeltser (Investors), +1-704-752-4478, investor@spx.com, or Jennifer
H. Epstein (Media), +1-704-752-7403, jennifer.epstein@spx.com