SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities
Exchange Act of 1934
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[ X ] Definitive Additional Materials by Rule 14a-6(e)(2))
[ ] Soliciting Material Pursuant to
240.14a-11(c) or 240.14a-12
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Echlin Inc.
(Name of Registrant as Specified In Its Charter)
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SPX Corporation
(Name of Person(s) Filing Proxy Statement, if other than Registrant)
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pursuant to Exchange Act Rule 0-11:
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CONTACTS:
Charles A. Bowman George Sard/Anna Cordasco/Paul Caminiti
SPX Director of Corporate Finance Sard Verbinnen & Co
(616) 724-5194 (212) 687-8080
SPX ISSUES STATEMENT ON DEFEAT OF CONNECTICUT HOUSE BILL 5695
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MUSKEGON, MI, MARCH 25, 1998 - SPX Corporation (NYSE: SPW) today
issued the following statement regarding this afternoon's vote by the
Connecticut House of Representatives to defeat proposed House Bill 5695:
"We're extremely pleased the Connecticut House has defeated this
special-interest legislation. Now that Echlin Inc. (NYSE:ECH) shareholders
have spoken and exercised their right to call a special meeting, we hope
the Echlin board will fulfill their fiduciary duty to consider SPX's full
and fair offer. As we have repeatedly stated, SPX would prefer a negotiated
transaction with Echlin. In the event that Echlin's Board continues to
refuse to negotiate, we look forward to the special meeting of Echlin
shareholders, which must be held by June 25th, where Echlin shareholders
can decide for themselves what course their company will take.
"At the special meeting, Echlin's existing Board would be removed if
more shareholders vote in favor of removal than vote against removal; new
directors would be elected by a simple majority of those voting.
"The combination of SPX and Echlin will create a world-class company
with the scale and capabilities to excel in the rapidly consolidating $350
billion vehicle service industry. The combination will create substantial
value for all shareholders, at the same time providing superb products and
services for customers and new opportunities for the employees and
communities of both companies."
SPX Corporation is a global provider of Vehicle Service Solutions to
franchised dealers and independent service locations, Service Support to
Vehicle Manufacturers, and Vehicle Components to the worldwide motor
vehicle industry. SPX's Internet address is www.spx.com.
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