SPX to Donate Autographed Ford Mustang Challenge Race Car to Help Raise Funds for St. Jude Children's Research Hospital

Randy Owen, Lead Singer of Legendary Country Music Group Alabama, to Join Auction of SPX Car at Barrett-Jackson Collector Car Event

Jan 18, 2010, 08:30 ET from SPX Corporation

CHARLOTTE, N.C. and SCOTTSDALE, Ariz., Jan. 18 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE: SPW) today announced that it will donate a Ford Mustang FR500S Challenge Race car autographed by numerous race car drivers to raise funds for St. Jude Children's Research Hospital (www.StJude.org).  The car is scheduled to be auctioned off at the Barrett-Jackson Collector Car Auction taking place in Scottsdale, Arizona with all of the proceeds going to St. Jude.

The charity auction will take place on Friday, Jan. 22 and will be televised live on the Speed Channel at approximately 6 p.m. Mountain time, 8 p.m. Eastern time.

Randy Owen, lead singer of the multi-platinum, country music group Alabama and a long-time supporter of St. Jude Children's Research Hospital, will join SPX, Barrett-Jackson, Capaldi Racing and St. Jude executives in the auction of the SPX-donated race car.  Mr. Owen, who in 1989 established the annual radio-thon fundraiser "Country Cares for St. Jude Kids," has helped raise more than $345 million for the cancer research organization.

"SPX is proud to again participate in the fundraising efforts that support St. Jude Children's Research Hospital and their vital contributions toward the research and treatment of pediatric cancer and other catastrophic childhood diseases," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney.  "This race car, in addition to its tour on the race tracks, has made appearances at St. Jude fund raising events, and the lucky winning bidder will receive not only a truly unique car but have the satisfaction of knowing they are supporting one of the great children's hospitals in the world."

The Ford Mustang FR500S is a specially prepared car that has raced in the Mustang Challenge for the Miller Cup and is number 56 of approximately 75 cars that were built on the production line in Flat Rock, Michigan.  This also marked the first time that Ford had ever built a production run of cars for a race car series on their assembly line.  

Prepared by Capaldi Racing in conjunction with Ford Racing, the car features a specially modified production 4.6L, 3-valve V-8 engine producing 325 horsepower. The car just recently completed the 2009 series and is race-ready for any qualified enthusiast seeking to race in a competitive series.  The car was obtained through SPX's diagnostic tool business, Detroit-based SPX Service Solutions, which has been a service provider to Ford Motor Company for many years.

"This particular race car is truly special in that it bears the signed autographs of many of the drivers in the Miller Cup series, along with the signature of Gary Bennett of Barrett-Jackson, who was the most recent driver at the final series event at Miller Motorsports Park," explains David Kowalski, SPX segment president. "The vehicle also remains race-ready, with all the safety equipment, data acquisition recorders and timing and scoring transponders still in place.  Another unique aspect is that it's equipped with a passenger seat, because it was used as a media car to run hot laps with celebrities and members of the media."

About the Mustang Challenge Series

This series was created to provide a venue for competitive racing of the new platform Ford Mustang. The FR500S Mustang is a limited production race car that was built on a production line at Flat Rock, Michigan. Co-developed by Ford Racing and Miller Motorsports Park, the series is sanctioned by the Great American Road Racing Association and in 2010 will feature a 10 race schedule at selected road courses from Florida to Connecticut to Utah.

About the Barrett-Jackson Auction – Scottsdale, AZ, January 18 - 24, 2010

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 more than 200,000 collectors and enthusiasts from around the globe.  For more information, please visit www.barrett-jackson.com/events/scottsdale/.

About SPX

SPX Corporation is a Fortune 500 multi-industry manufacturing leader. The company offers highly-specialized engineered solutions to solve critical problems for customers.

SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.

SPX is headquartered in Charlotte, North Carolina and has employees in over 40 countries worldwide. Visit www.spx.com. (NYSE: SPW)

SOURCE SPX Corporation