SPX Corporation Sells Its GS Electric Unit

    MUSKEGON, Mich., May 21 SPX Corporation today
announced that it has sold the assets of its GS Electric business to
AMETEK, Inc.

    GS Electric is a leading manufacturer of universal and permanent magnet
motors for the floorcare, health and fitness, lawn and garden, small home
appliance and other markets.  It has manufacturing facilities in Chambersburg,
Pennsylvania and Hudson, Wisconsin.  AMETEK is a manufacturer of air-moving
electric motors for the floor care industry and a leader in brushless
air-moving motors for the aerospace, business machine, mass transit, medical
and computer markets.

    Commenting on the transaction, John B. Blystone, Chairman, President and
Chief Executive Officer of SPX Corporation said, "GS Electric is a good
business that is a clear strategic fit with AMETEK.  While we will continue to
focus on our core businesses, GS Electric will have the opportunity for growth
as part of an organization focused on similar products and markets."