Bosch Picks Up SPX's Auto Parts Unit For $1B

Law360, New York (January 24, 2012, 3:30 PM EST) -- SPX Corp. has agreed to sell its automotive parts and diagnostics unit to German auto parts maker Robert Bosch GmbH for around $1.15 billion in a move to focus on its core flow technology unit, the diversified manufacturer announced Tuesday.

Charlotte, N.C.-based SPX's Services Solutions unit makes diagnostic and service tools, workshop equipment and software for the global automotive aftermarket. The unit, headquartered in Warren, Mich., is expected to report $92 million in sales for fiscal year 2011, representing around 15 percent of SPX's total revenues,...
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