GE agrees to buy SPX's fire-and-security unit for $1.4 billion

Monday, November 8th 2004, 9:41 am
By: News On 6

CHARLOTTE, N.C. (AP) _ Fairfield-based General Electric is buying the fire and security division of North Carolina corporation.

GE says it will buy SPX Corporation's Edwards Systems Technology fire-and-security unit for nearly $1.4-billion in an all-cash deal.

EST, which develops fire detection and other building security systems, was acquired by SPX in 1998 as part of its acquisition of General Signal.

SPX provides technical products and systems, industrial products and services, flow technology and cooling technologies and services.