SPX Corporation to acquire Hankison International
28 Jan 2003
SPX Corporation has signed a definitive agreement to acquire certain assets and subsidiaries of Hankison International from Hansen Incorporated. Based in Canonsburg, PA, Hankison is a manufacturer of compressed air dehydration and filtration products with annual revenues of over $60 million.
SPX's Flair unit manufactures filters and dryer products under the Airpel, Delair, Deltech, Dollinger, GD Engineering, General Pneumatics, Kemp, Pneumatic Products, and Plenty Filter brands.
SPX will integrate the Flair and Hankison product lines into a new business unit named SPX Air Treatment.
With the acquisition, SPX Air Treatment will become a global supplier of compressed air treatment products and services with three distinct market focuses.
The Engineered Products market will be comprised of the Pneumatic Products, Delair and Kemp brands. The Process Filtration sector will be addressed by the Airpel, GD Engineering, Dollinger and Plenty Filter brands. Lastly, the Industrial Products line will be served by the Hankison International, Deltech and General Pneumatics brands.
