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SPX Corporation Named to CRO's 100 Best Corporate Citizens 2008 Rankings
SPX Corporation Named to CRO's 100 Best Corporate Citizens 2008 Rankings
Published 02-25-08
Submitted by SPX Corporation
CHARLOTTE, N.C., Feb. 25 /PRNewswire-FirstCall/ -- SPX Corporation
(NYSE: SPW) today announced that it has been named to Corporate Responsibility Officer (CRO) magazine's 100 Best Corporate Citizens 2008, an annual scorecard recognizing excellence in corporate responsibility efforts.
SPX was ranked #100 on this year's list, which includes some of the best-known companies in the world, including Bank of America Corp., Coca-Cola Co., IBM Corp., Intel Corp. and Nike Inc. One of the company's strongest scores was in the financial category, which evaluates the three-year return on investment in the company stock based on Morningstar rankings.
"SPX is honored to have earned this important distinction and to have been recognized by CRO for our corporate social responsibility efforts around the world," said Chris Kearney, Chairman, President and Chief Executive Officer of SPX. "Our inclusion in this well-respected scorecard is a testament to the dedicated contributions of our employees and our ongoing commitment to transparency, world class corporate governance and accountability as a good corporate citizen. It also reflects the advancements we have made in developing and introducing innovative, environmentally-friendly solutions for our customers."
Now in its ninth year, the 100 Best Corporate Citizens 2008 list ranks Russell 1000 companies' corporate responsibility efforts in eight key areas: Climate Change, Employee Relations, Environment, Financial, Governance, Human Rights, Lobbying and Philanthropy. CRO developed this year's rankings based on an evaluation methodology that relies on the actual comparisons of companies within categories and based on predefined criteria. The researchers also relied solely on data derived only from publicly available sources on the theory that transparency is a basic principle of the Corporate Responsibility profession. CRO worked in partnership with IW Financial, a Portland, Maine, research and consulting firm, to determine the rankings. More information on CRO's 100 Best Corporate Citizens 2008 can be found at www.thecro.com.
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 environmentally friendly products, includes cooling systems for all types of power plants throughout the world; custom engineered pumps, valves and mixers that assist a variety of flow processes including oil and gas exploration, distribution and refinement; 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 employs over 17,000 people worldwide in over 30 countries. Visit www.spx.com.
