SPX To Sell Bomag Unit

Charlotte, N.C. — SPX Corp., Charlotte, N.C., has announced that it has reached an agreement to sell its Bomag unit to Bordeaux, France-based Fayat for approximately $446 million in cash. The sale is expected to close in the fourth quarter of 2004.

Bomag is a manufacturer of heavy and light equipment for soil, asphalt and refuse compaction.