Posted on February 21, 2019
US-headquartered SPX Corporation has announced that it has completed the acquisition of the Sabik Marine and obstruction lighting business of Carmanah Technologies Corporation.
The results of the purchased business will be reported with SPX’s Communication Technologies businesses within its Detection & Measurement segment.
“We are excited to welcome the Sabik team to SPX,” said Gene Lowe, President and CEO of SPX Corporation. “This acquisition expands and strengthens our position in aids-to-navigation specialty lighting solutions. We believe Sabik’s highly-engineered technology and products are an excellent fit with SPX’s portfolio of communication technologies solutions, and will provide significant value creation for our shareholders.”
SPX Corporation is a supplier of highly engineered products and technologies, holding leadership positions in the HVAC, detection and measurement, and engineered solutions markets. Based in Charlotte, North Carolina, SPX Corporation has approximately 4,000 employees in 17 countries.
Source: Maritimejournal.com
