Charlotte-based SPX files SEC paperwork for company split

Charlotte-based manufacturer SPX Corp., which plans to split into two companies, announced Thursday it has filed paperwork with the U.S. Securities and Exchange Commission related to its new subsidiary.

The proposed spin-off, announced in October, could be completed by the end of the year, SPX chairman and chief executive Chris Kearney said in a statement.

Shares of the newly formed company, SPX FLOW, Inc., would trade on the New York Stock Exchange under the ticker symbol “FLOW.” SPX Corp, which now uses the ticker symbol "SPW," would trade under the new symbol “SPXC.”

"The separation process remains on track and we expect SPX FLOW to be operating independently with its shares trading on the New York Stock Exchange around the end of the third quarter," Kearney said.

The company made the comment in a news release announcing the spin-off company filed initial form 10 registration with the SEC.

SPX said in October that the flow company will have $3 billion worth of revenues, making and selling equipment such as pumps, valves and filtration systems.

The remaining part of SPX will continue as a separate infrastructure company, with $2 billion worth of revenue. The company will make and sell products such as power transformers, boilers and communication systems.

SPX employs about 350 in Charlotte, where the company is headquartered in a Ballantyne office building.

This story was originally published May 14, 2015 at 2:35 PM with the headline "Charlotte-based SPX files SEC paperwork for company split."