SPX is focused on three global end markets with promising long-term growth infrastructure, process equipment and tools and diagnostics. With operations in over 40 countries and approximately 17,000 employees worldwide, SPX has a presence in all corners of the globe.

In 2008, SPX revenues were about $6 billion. Approximately 56% of this was driven by global infrastructure development. SPX infrastructure-related products and services include wet and dry cooling systems, thermal service and repair work, heat exchangers and power transformers that are sold into the global power market. In addition, SPX provides pumps, metering systems and valves for the global oil and gas, chemical and petrochemical exploration, refinement and distribution markets.

SPX's other key end markets are tools and diagnostics and food and beverage. SPX's primary offerings to the tools and diagnostics end market include, among other things, electronic diagnostic systems, specialty service tools, service equipment and technical information services with a primary focus on the global transportation market.

The products SPX provides to the food and beverage market include a variety of process equipment used to control flow and temperature during manufacturing, including various pumps, heat exchangers, valves and mixers.

We expect that world population growth, the advancement of the middle class in developing countries and the need to replace aged infrastructure in the developed world will continue to drive demand for electricity, food and beverage consumption and new vehicles--all of which in some way require products and services from SPX businesses.