SPX Donates Special Ford Mustang Race Car to Benefit St. Jude Children's Research Hospital

CHARLOTTE, N.C. and SCOTTSDALE, Ariz., Jan. 18, 2011 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that the company is donating a 2008 Ford Mustang FR500S race car to be auctioned off at the 2011 Barrett-Jackson Collector Car Auction, with proceeds going to St. Jude Children's Research Hospital (www.StJude.org).

(Photo: http://photos.prnewswire.com/prnh/20110118/DE31118 )

The highest bidder will win the Ford FR500S Mustang racecar, along with an opportunity to compete in the SCCA 2011 Pro Racing World Challenge Championship race.  In addition, the winner will receive admission into Ford Racing High Performance Driving School at Miller Motorsports Park, and a sponsorship package from SPX for technical racing support, valued at over $30,000. The auction is scheduled to take place on Friday, January 21, and be televised live on the Speed Channel Cable Network at approximately 7:00 p.m. Mountain time, 9:00 p.m. Eastern time.

This will mark the second consecutive year that SPX is donating a car to benefit St. Jude's annual fundraising efforts.  At last year's Barrett-Jackson Collector Car Auction, SPX helped raise $275,000 for the charity with a race-proven 500S, autographed by numerous racecar drivers.

"SPX is extremely proud to support St. Jude Children's Research Hospital, a world leader in advancing the treatment and prevention of children's catastrophic diseases," said Christopher J. Kearney, Chairman, President and Chief Executive Officer of SPX. "We're looking forward to the opportunity to help raise awareness and financial support for St. Jude's, as well as give one lucky bidder the chance to receive an extraordinary car while supporting this very important organization."

Outfitting this special edition FR500S was a joint effort among SPX, Ford Racing, Miller Motorsports Park, the Ford Racing High Performance Driving School, Stand 21, SPEEDCOM Communications, Capaldi Racing and Cragar Wheels. This special Mustang is outfitted with Ford Racing Performance Parts such as high-flow cylinder heads, full race camshafts, intake manifold, competition throttle body, a race-capacity oil pan and high torque one-piece aluminum driveshaft.  SPX and Ford Racing enlisted Capaldi Racing group to modify a new FR500S specifically for competing in the World Challenge SCCA Race Series.

This Mustang FR500S features a carbon fiber louvered hood, trunk, and rear spoiler for less weight and better aerodynamics, as well as Pirelli racing tires. The vehicle also includes Brembo Racing Pro Series four-piston brake calipers, 14" slotted discs with Hawk racing brake pads.

"A lot of hard work went into creating a truly unique car that will hopefully generate a great deal of interest and excitement among bidders, and raise as much money as possible for St. Jude Children's Research Hospital when it crosses the Barrett-Jackson auction block," Kearney added.

About the Barrett-Jackson Auction – Scottsdale, AZ, January 17 - 23, 2011

For nearly four decades, the Barrett-Jackson Auction Company has been recognized throughout the world for offering only the finest selection of quality collector vehicles, outstanding professional service, and an unrivaled sales success. From classic and one-of-a-kind vehicles to exotics and muscle cars, Barrett-Jackson attracts only the best.  The auction features approximately 1,000 of the world's finest collector and special-interest automobiles and is attended by approximately 200,000 collectors and enthusiasts from around the globe.  For more information, please visit www.barrett-jackson.com/events/scottsdale/.

A video of the car is available at http://www.spx.com/en/media-room/spx-in-the-news/barrett-jackson.aspx.

About SPX

SPX Corporation (NYSE: SPW) is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.

SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company's innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.

With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide. Visit www.spx.com.

SOURCE SPX Corporation