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SPX Announces Acquisition of Teradyne Diagnostics Solutions, Broadening SPX Diagnostic Capabilities for Global Automotive Companies

CHARLOTTE, N.C. Feb. 16, 2011 Manchester, UK

$40 million

Manchester Brussels Munich Detroit Tokyo

David Kowalski

"We already work closely with OEMs to engineer custom diagnostic and service tools used in their service organizations," added Kowalski. "This acquisition will extend our capabilities in designing diagnostic solutions for vehicles of ever-increasing complexity, including the growing fleet of today’s electric vehicles."

Teradyne Diagnostics Solutions programs software in the electronic controllers on vehicles, tests the systems as they are assembled, and conducts final manufacturing checks for quality.  At OEM dealerships, the company is focused on fixing faults in the service bay. The company’s full range of products and services includes software, software customization and authoring, hardware, consultancy, training, call center support, project management, and outsourcing resource.

Completion of the transaction is expected no later than the second quarter 2011, subject to customary closing conditions and regulatory approvals.

About SPX

SPX Corporation (NYSE: SPW) is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.

SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company’s innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.

Charlotte, North Carolina

Certain statements in this press release including any statements relating to consummation of the contemplated transaction or post- acquisition results, 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. The word "expect," "believe" and similar expressions may identify forward-looking statements. 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

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