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SPX to Sell BOMAG to Fayat for $446 Million in Cash.

Publication: PR Newswire
Publication Date: 29-OCT-04
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Will Use Proceeds To Reduce Debt

SPX Corporation today announced that it has signed a definitive agreement to sell its BOMAG compaction equipment business to Fayat for approximately $446 million in cash. SPX will use the net proceeds from the transaction to pay down debt. The transaction, which is subject to antitrust clearance and customary closing conditions, is expected to close in the fourth quarter of 2004.

John B. Blystone, Chairman, President and Chief...

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