SPX Service Solutions Awarded Global Contract with John Deere to Provide Vehicle Special Service Tools
CHARLOTTE, NC - July 23, 2008 - SPX Corporation (NYSE: SPW) today announced that its Service Solutions business was awarded a five-year, renewable contract from John Deere (NYSE: DE) to provide all special service tools used throughout John Deere's complete global dealer network.
"We are a long-time supplier to John Deere and have the expertise to provide an end-to-end system to manage their special service tools program," said David Kowalski, SPX segment president. "We are excited about expanding our partnership with Deere, and our user-friendly, comprehensive system will help ensure that their technicians have all the tools they need to provide exceptional service," he added.
SPX Service Solutions has agreed be the exclusive provider for Deere's SERVICEGARD program, through which Deere's dealers procure essential service tools. SPX has also agreed to implement its Service Readiness System, a web-based ordering and tool management system for Deere's global dealer network.
Kowalski noted that SPX's global reach is well-suited for John Deere's growth.
SPX Service Solutions, headquartered in Southfield, Michigan and with offices around the world, designs, manufactures and markets a fully integrated family of global brands providing special service tools, advanced diagnostic and shop equipment and technical information for vehicle servicing and maintenance.
SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The company offers highly-specialized engineered solutions to solve critical problems for customers.
SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many environmentally friendly products, includes cooling systems for power plants throughout the world; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.
SPX is headquartered in Charlotte, North Carolina and employs more than 17,000 people worldwide in over 35 countries. Visit www.spx.com. (NYSE: SPW)
Certain statements in this press release, including any statements relating to timing or other aspects or terms of the referenced agreement, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The words "scheduled," "agreed" and similar expressions identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
E-mail: jennifer.epstein@spx.com