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SPX To Sell SPX Transformer Solutions To GE-Prolec Transformers For $645 Mln Cash

SPX To Sell SPX Transformer Solutions To GE-Prolec Transformers For $645 Mln Cash
FAIRFIELD (dpa-AFX) - SPX Corp. announced Wednesday that it has entered into a binding agreement to sell 100% of the issued and outstanding stock of its wholly-owned subsidiary, SPX Transformer Solutions, Inc., to GE-Prolec Transformers, Inc., a subsidiary of a joint venture between General Electric Co. (GE) and Xignux S.A. de C.V. for a cash purchase price of $645 million.
SPX anticipates that after taxes on a gain from the sale, net proceeds will be approximately $540 million. The purchase price is subject to customary net working capital and similar adjustments at closing. ....

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The CBSA launches an investigation into small power transformers from Austria, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei), and South Korea

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OTTAWA, ON, April 15, 2021 /CNW/ - The Canada Border Services Agency (CBSA) announced today that it is launching an investigation to determine whether certain small power transformers from Austria, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu (Chinese Taipei), and South Korea are being sold at unfair prices in Canada.
The investigation is the result of a complaint by Transformateurs Delta Star Inc. (Saint-Jean-sur-Richelieu, QC), Northern Transformer Corporation (Maple, ON), PTI Transformers Inc. (Regina, SK), and PTI Transformers L.P. (Winnipeg, MB) and is supported by Stein Industries Inc. (London, ON) and Transformateurs Pioneer Ltée. (Granby, QC). The complainants allege that they are facing an increase in the volume of the allegedly dumped imports, price depression and suppression, loss of sales, price undercutting, loss of market share, impacted financial results, underutilization of capacity, reduce ....

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