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Press Release 12.12.2018

February 1, 2019
SPX Completes Acquisition of Marine and Obstruction Lighting Business of Carmanah 

SPX Corporation (NYSE:SPXC) announced today that it has completed the acquisition of the Sabik Marine and obstruction lighting business of Carmanah Technologies Corporation. The results of the purchased business will be reported with SPX’s Communication Technologies businesses within its Detection & Measurement segment. The acquisition is expected to be modestly accretive to SPX’s 2019 Adjusted EPS.

“We are excited to welcome the Sabik team to SPX,” said Gene Lowe, President and CEO of SPX Corporation. “This acquisition expands and strengthens our position in aids-to-navigation specialty lighting solutions. We believe Sabik’s highly-engineered technology and products are an excellent fit with SPX’s portfolio of communication technologies solutions, and will provide significant value creation for our shareholders.” Read more...

 

 

Press Release 12.12.2018

Carmanah Announces Agreement to Sell Assets to SPX Corporation

Carmanah Technologies Corporation announced today that it has entered into a purchase agreement regarding the sale of a significant portion of the assets of the Company to SPX Corporation.  The assets being sold include all of the issued and outstanding equity interests of each of Sabik Oy, Sabik Oü, Sabik PTE Ltd., and Sabik Ltd., and their respective assets (collectively, “Carmanah’s Marine business”), the business and assets the Company’s Airfield Ground Lighting business, its Aviation Obstruction Lighting business as well as some miscellaneous business assets that support the businesses to be sold. Read more on the Press Release

 

Carmanah To Acquire Vega Industries Limited

CARMANAH CLOSES PURCHASE OF VEGA LIMITED

We are excited to share that effective August 1, 2017, Carmanah Technologies Corporation (Carmanah) has acquired Vega Industries Limited (Vega). This acquisition brings together Sabik Marine, Carmanah, Ekta, and Vega to create a global leader in the marine aids-to-navigation market.

Read more on the Press release.