SPX Service Solutions and Keating Technologies Announce Business Agreement
15 April 1999
SPX Service Solutions and Keating Technologies Announce Business AgreementWARREN, Mich., April 15 -- Service Solutions, a unit of SPX Corporation , today announced that they have reached an agreement with Keating Technologies, Tucson, Arizona, to supply inspection and emissions testing equipment for the emissions testing program in the Commonwealth of Massachusetts. After an extensive evaluation, SPX Service Solutions was chosen for the quality and value of its equipment including the engineering of the supporting software. SPX Service Solutions will provide roughly 50% of the required equipment to Keating Technologies, the network contractor for the Massachusetts Enhanced Vehicle Inspection Program. The contract also includes a 7-year service warranty and service provision for the SPX Service Solutions portion of the estimated 1,200 Keating provided units. Tom Fournier, Executive Vice President, Keating Technologies, remarked, "This new equipment will provide state of the art technology to the Commonwealth of Massachusetts, assisting in the effort to reduce the amount of air pollution contributed by vehicles in the Commonwealth. This activity will put the Commonwealth in compliance with Federal EPA, clean air mandates and the program should serve as a model for activity in other jurisdictions." Tom Riordan, President, SPX Service Solutions, commented, "We are pleased to have been put through such an extensive evaluation of potential partners. SPX was clearly a leader in meeting the uncompromising value, quality, high performance, and stringent service needs of both the Commonwealth of Massachusetts and Keating Technologies." Keating Technologies is a leading contractor in the design, development, implementation and operation of both centralized and decentralized emissions programs. Service Solutions, a unit of SPX Corporation, is a leader in special service tools and equipment, electronic diagnostics, emissions testing equipment and technical information services for the global motor vehicle industry. SPX Corporation is a global provider of industrial products and services, technical products and systems, service solutions and vehicle components. The Internet address for SPX Corporation's home page is http://www.spx.com. Certain statements in this press release are forward looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended and are subject to the safe harbor created thereby. Please refer to the Company's Form 10-K for 1998, and its 1998 Third Quarter Report on Form 10-Q for discussion of certain important factors that relate to forward looking statements contained in this press release. Although the Company believes that the expectations reflected in any such forward looking statements are reasonable, it can give no assurance that such expectations will prove to be correct.