“Filing the initial Form 10 is a significant milestone in the process of establishing SPX Flow as a stand-alone publicly traded company,” said Chris Kearney, SPX Corp chairman, president and CEO.
SPX Flow is expected to be operating independently with its shares trading on the New York Stock Exchange around the end of the third quarter.
SPX believes the spin-off of SPX Flow will result in the creation of two strong, stand-alone companies with each company pursuing a more focused commercial and operational strategy.
Gene Lowe, future CEO of SPX Corp, said: “Following the spin-off of our Flow business, we believe SPX Corporation will be well positioned as a leading supplier of infrastructure equipment, with a strong market presence in HVAC and power products, along with a very attractive offering of highly engineered detection and measurement technologies.”