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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Contacts:
Charles A. Bowman
SPX Director of Corporate Finance
(616) 724-5194
George Sard/Anna Cordasco/Paul Caminiti
Sard Verbinnen & Co.
(212) 687-8080
SPX ISSUES STATEMENT ON PROPOSED AMENDMENT TO CONNECTICUT HOUSE BILL 5695
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MUSKEGON, MICHIGAN, MARCH 18, 1998 - SPX Corporation (NYSE:SPW)
today issued the following statement regarding the proposed amendment
to Connecticut's proposed House Bill 5695:
"The proposed amendment to House Bill 5695 is special interest
legislation which, if passed, would eliminate the right of
shareholders of all Connecticut companies to call a special
shareholder meeting until 1999. Additionally, the proposed amendment
retroactively removes the statutory mandate that 35% of the
shareholders of a Connecticut company can call a special shareholder
meeting. This proposed amendment is nothing more than another
desperate attempt by Echlin, Inc. (NYSE:ECH) senior management to
disenfranchise its shareholders.
"The proposed amendment to House Bill 5695 is bad for all
Connecticut companies, the surrounding communities and their
employees. While we are disappointed in Echlin's continuing attempts
to enact legislation that protects its senior management at the
expense of its shareholders and employees, we remain confident that
the elected officials of Connecticut will not enact this misguided,
special interest legislation.
"SPX remains committed to completing the compelling combination
of our company with Echlin. We will continue to vigorously oppose
amended House Bill 5695, and will take all necessary steps to protect
shareholder interests."
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.
