BALLANTYNE – SPX Corporation, a Fortune 500 company with a headquarters in the Ballantyne Corporate Park, announced recently the acquisition of CLYDEUNION Pumps.
The company is a leading global supplier of pump technologies used in oil and gas processing, as well as power generation and other industrial applications. It is based in Glasgow, United Kingdom, and operates eight manufacturing facilities. SPX is paying at least 500 million British Pounds, or roughly $779.5 million, for the company.
The acquisition will increase SPX’s global presence, especially in emerging markets where energy infrastructure growth is strongest, said SPX Chairman Chris Kearney in a news release.
SPX employs some 16,000 people in more than 35 countries. The company’s new headquarters is currently under construction in Ballantyne. Find more information at the company’s website, www.spx.com.