"The acquisition of APV greatly enhances our process equipment operations serving key markets around the world, particularly in Europe and Asia Pacific," said Chris Kearney, chairman, president and CEO of SPX. "With APV's broad spectrum of proven process solutions, rich heritage of innovation and wealth of engineering expertise, we are better positioned than ever to capitalize on the growing global demand for flow technology products and solutions."
APV was previously a division of Invensys PLC, an international industrial automation, transportation and controls group headquartered in London. APV's primary products include pumps, valves, heat exchangers and homogenizers for the food, dairy, beverage and pharmaceutical industries.
SPX first announced that it had entered into a definitive agreement to acquire APV on October 31. APV will be operated as part of SPX's flow technology segment.
SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The company offers highly specialized engineered solutions to solve critical problems for customers.
