SPX Transformer Solutions

Mexican power transformers manufacturer ProlecGE acquired SPX Transformer Solutions from US engineering group SPX for $645 million.

Prolec GE Transformers, Inc., a joint venture of GE and Xignux, completed the $645 million acquisition of SPX Transformer Solutions, Inc., a U.S. transformer technology company.

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.

The city of Powell awarded SPX Transformer Solutions a $1 million contract for two transformers for the Vining Substation upgrade, with one transformer delivered on June 10.

GE-Prolec Transformers, Inc. (Prolec GE) has signed a definitive agreement to acquire SPX Transformer Solutions business (SPXT) from SPX Corporation for $645 million cash. The deal is expected to close by end of 2021.

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.