UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 27, 2005
SPX CORPORATION
(Exact name of registrant as specified in its charter)
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DELAWARE |
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1-6948 |
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38-1016240 |
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(State or other jurisdiction of incorporation or organization) |
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(Commission File Number) |
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(I.R.S. Employer |
13515 Ballantyne Corporate Place
Charlotte, North Carolina 28277
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (704) 752-4400
NOT APPLICABLE
(Former name or former address if changed since last)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01 Other Events
A copy of the Company press release announcing the adopting of a written trading plan under Rule 10b5-1 is filed as Exhibit 99.1 to this report.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are filed herewith.
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Exhibit |
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Description |
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99.1 |
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Press Release issued by SPX Corporation on June 27, 2005 |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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SPX CORPORATION |
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Date: June 28, 2005 |
By: |
/s/ Ross B. Bricker |
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Ross B. Bricker |
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Senior Vice President, Secretary |
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and General Counsel |
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EXHIBIT INDEX
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Exhibit |
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Description |
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99.1 |
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SPX Press Release issued by SPX Corporation on June 27, 2005 |
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EXHIBIT 99.1
SPX Announces 10b5-1 Plan
CHARLOTTE, NC - June 27, 2005 - SPX Corporation (NYSE:SPW) today announced that it has adopted a written trading plan under Rule 10b5-1 of the Securities Exchange Act of 1934 to facilitate the repurchase of its common stock in accordance with the share repurchase program authorized by its Board as announced on March 28, 2005. The plan becomes effective today, and during its term all company repurchases will be made pursuant to the plan.
As part of its re-capitalization strategy announced on March 3, 2005, the company has a target of repurchasing approximately 10 million shares of its stock during 2005. To date in 2005, SPX has repurchased approximately 1.6 million shares. In addition, the company has reduced debt by 70% and completed the divestiture strategy undertaken in 2004, further increasing its financial flexibility.
SPX Corporation is a leading global provider of thermal equipment and services, flow technology, test and measurement solutions and industrial products and services. For more information visit the company’s web site at www.spx.com.
Certain statements in this press release 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 “believe,” “expect,” “anticipate,” “estimate,” “guidance,” “target” 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
Tina Betlejewski (Media)
704-752-4454
E-mail: media@spx.com