SPX FLOW Completes Sale of Its Power and Energy Business
SPX FLOW, Inc. (FLOW)
Last spx flow, inc. earnings: 2/11 06:30 am
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US:NASDAQ Investor Relations:
spxflow.com/en/investor-relations
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Source: PR Newswire
CHARLOTTE, N.C., March 30, 2020 /PRNewswire/ --Completes Key Strategic Move Towards Building a Premier Process Solutions Enterprise: Business profile now concentrated in essential sanitary and industrial process applications where customers value SPX FLOW's deep application knowledge, technical engineering and process expertise Cross-functional growth teams established to target higher quality of revenue and expand presence in micro-verticals where growth is driven by secular trends around health, safety and sustainabilityStrengthens Financial Position and Liquidity: $1.1 billion of liquidity No significant debt maturities until 2024 Net leverage and interest coverage ratios well below debt covenants in credit facilities Attractive free cash flow profile through a business cycle Updates Capital Allocation Priorities: Continue to invest in business to improve velocity, vitality and customer intimacy Targeting $300 million debt reduction in 2020 Announces authorization for future share
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