GE-Prolec Transformers

SPX Corporation completed the sale of its subsidiary SPX Transformer Solutions to GE-Prolec Transformers, a joint venture between GE and Xignux, for $645 million including assumed debt.

SPX Corporation entered into a binding agreement to sell its wholly-owned subsidiary SPX Transformer Solutions to GE-Prolec Transformers for $645 million in cash. The transaction is expected to close in the second half of 2021.