Court Issues Interim Order in Proposed Acquisition of United Dominion

Apr 12, 2001, 01:00 ET from United Dominion Industries Ltd.

    CHARLOTTE, N.C., April 12 /PRNewswire/ --
     United Dominion Industries Ltd. (NYSE, TSE: UDI) ("UDI") announced that it
 has obtained an interim order from the Ontario Superior Court of Justice with
 respect to its proposed acquisition by SPX Corporation by means of a plan of
 arrangement pursuant to the Canada Business Corporations Act.  The interim
 order provides for, among other things, an annual and special meeting of
 shareholders of United Dominion to be held on May 17, 2001 at Le Royal
 Meridien King Edward Hotel in Toronto, Ontario.  Materials containing detailed
 information about the plan of arrangement and the annual and special meeting
 will be mailed to shareholders of United Dominion shortly.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990407/CHW023 )
     The order also set a hearing date of May 18, 2001 (or as soon thereafter
 as practicable) for the Court to hear the application for an order approving
 the plan of arrangement.  Assuming approval by the United Dominion
 shareholders, approval of the Court, and satisfaction of the other conditions
 to closing, including receipt of regulatory approvals, it is expected that the
 acquisition will close on or about May 24, 2001.
     United Dominion is a diversified manufacturer of proprietary engineered
 products in four business segments -- Flow Technology, Machinery, Specialty
 Engineered Products, and Test Instrumentation.  It has annual sales of
 $2.4 billion and 14,000 employees in 20 countries.  More information about the
 company is available through its website -- www.uniteddominion.com.
     SPX Corporation (NYSE:   SPW) is a global provider of technical products and
 systems, industrial products and services, service solutions and vehicle
 components.  More information is available at www.spx.com.
 
 

SOURCE United Dominion Industries Ltd.
    CHARLOTTE, N.C., April 12 /PRNewswire/ --
     United Dominion Industries Ltd. (NYSE, TSE: UDI) ("UDI") announced that it
 has obtained an interim order from the Ontario Superior Court of Justice with
 respect to its proposed acquisition by SPX Corporation by means of a plan of
 arrangement pursuant to the Canada Business Corporations Act.  The interim
 order provides for, among other things, an annual and special meeting of
 shareholders of United Dominion to be held on May 17, 2001 at Le Royal
 Meridien King Edward Hotel in Toronto, Ontario.  Materials containing detailed
 information about the plan of arrangement and the annual and special meeting
 will be mailed to shareholders of United Dominion shortly.
     (Photo:  http://www.newscom.com/cgi-bin/prnh/19990407/CHW023 )
     The order also set a hearing date of May 18, 2001 (or as soon thereafter
 as practicable) for the Court to hear the application for an order approving
 the plan of arrangement.  Assuming approval by the United Dominion
 shareholders, approval of the Court, and satisfaction of the other conditions
 to closing, including receipt of regulatory approvals, it is expected that the
 acquisition will close on or about May 24, 2001.
     United Dominion is a diversified manufacturer of proprietary engineered
 products in four business segments -- Flow Technology, Machinery, Specialty
 Engineered Products, and Test Instrumentation.  It has annual sales of
 $2.4 billion and 14,000 employees in 20 countries.  More information about the
 company is available through its website -- www.uniteddominion.com.
     SPX Corporation (NYSE:   SPW) is a global provider of technical products and
 systems, industrial products and services, service solutions and vehicle
 components.  More information is available at www.spx.com.
 
 SOURCE  United Dominion Industries Ltd.

RELATED LINKS

http://www.spx.com


http://www.uniteddominion.com