Manufacturer of industrial
equipment and services.
13515 Ballantyne Corporate Place
Charlotte, NC 28277
CEO: Chris Kearney
Stock Symbol: SPW
Operating in more than 20 countries with
approximately 14,000 employees, SPX is a provider of Flow Technology,
Test and Measurement, Thermal Equipment and Services, and Industrial
Products and Services.
SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company's innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.
In 2010, SPX reported revenues of $4.89 billion, a 0.9% increase, with net income of $202.8 million.
SPX was founded in Muskegon, MI in 1911
as The Piston Ring Company and adopted its current name in 1988.
The company offers pay for performance
plans an annual bonus potential of up to 10% of base salary.
SPX offers a choice of medical plans, including HMO's at some
locations. Or, you may opt out of medical coverage and receive
additional cash in your paycheck. SPX pays the major portion
of the medical plan cost; your contribution is scaled to your
pay level. Most of our plans offer wellness benefits.
SPX provides choices in dental plans, all of which provide 100%
preventative coverage. We provide orthodontic benefits for children.
Life Insurance and Accidental Death
& Dismemberment Insurance
SPX provides basic life and accidental death and dismemberment
(AD&D) insurance equal to 1? times your pay, at no cost to
you. Additional coverage is available for you and your family
at group rates.
Employee Assistance Program
SPX provides a fully paid program of confidential, professional
counseling to meet your needs and those of your dependents.
Business Travel Accident Insurance
SPX provides, at no cost to you, additional AD&D coverage
while you are traveling on company business.
Short Term Disability
You are provided, at no cost to you, with generous income protection
in the event you are unable to work due to a serious illness
or accidental injury. This benefit provides income for up to
Retirement Savings Plan 401(k)
You can contribute up to 50% of your earnings in voluntary retirement
savings, on a pre-tax basis. The company matches the first 4%
at 100% and the next 2% at 50%. The amount you may contribute
annually is subject to regulatory limits.
SPX reimburses employees for tuition, books and fees towards
a college degree or other approved courses (to an annual cap).
SPX provides employees with paid vacation. Available vacation
is tied to your length of service. Vacation policies vary between
SPX business units.
SPX offers an adoption assistance program that reimburses up
to $3,000 per child for qualified adoption expenses.
Through the Matching Gift program, SPX will make a matching contribution
when employees contribute to eligible charitable organizations.
Special activities are planned throughout the year for employees
and their families.
Updated July 9, 2011