SPX Corp. will sell its European Power Generation business — also known as the Balcke-Dürr group — to mutares AG. The German-based industrial holding company specializes in power generation engineering and aftermarket power plant services and products. The closing of the transaction is expected to occur by December 31.
The purchase agreement terms include the sale of the subsidiaries comprising Balcke-Dürr, which manufactures products including heat exchangers for the water steam cycle. Balcke-Dürr manufactures feedwater heaters, turbine condensers and deaerators as well as complete cold-end solutions the air- and flue-gas systems.