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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
SPX CORP.
(Name of Issuer)
Common Stock, $10 Par Value
(Title of Class of Securities)
784635104
(CUSIP Number)
Check the following box if a fee is being paid with this statement []. (A
fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the
class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less
of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of the
Act (however, see the Notes).
Page 1 of 6 pages
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CUSIP No. 784635104
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harris Associates L.P. 04-3276558
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________
|
NUMBER OF | 5. SOLE VOTING POWER
|
SHARES | None
|
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | 1,507,900
|
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | none
|
PERSON | 8. SHARED DISPOSITIVE POWER
|
WITH | 1,507,900
_______________|
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,507,900
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
Not Applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.61%
12. TYPE OF REPORTING PERSON*
IA
Page 2 of 6 pages
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CUSIP No. 784635104
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harris Associates Inc. 04-3276549
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
Not Applicable (b) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________
|
NUMBER OF | 5. SOLE VOTING POWER
|
SHARES | None
|
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | 1,507,900
|
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | none
|
PERSON | 8. SHARED DISPOSITIVE POWER
|
WITH | 1,507,900
_______________|
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,507,900
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
Not Applicable
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.61%
12. TYPE OF REPORTING PERSON*
CO
Page 3 of 6 pages
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Item 1(a) Name of Issuer:
SPX Corp.
Item 1(b) Address of Issuer's Principal Executive Offices:
700 Terrace Point Drive
Muskegon, Michigan, 49443
Item 2(a) Name of Person Filing:
Harris Associates L.P. ("Harris")
Harris Associates, Inc.(the "General Partner")
Item 2(b) Address of Principal Business Office:
Both Harris and the General Partner maintain
their principal offices at:
Two North LaSalle Street, Suite 500
Chicago, Illinois 60602-3790
Item 2(c) Citizenship:
Harris is a Delaware limited partnership.
The General Partner is a Delaware corporation.
Item 2(d) Title of Class of Securities:
Common Stock, $10 Par Value (the "Shares")
Item 2(e) CUSIP Number:
784635104
Item 3 Type of Person:
(e) Harris is an Investment Adviser registered under
Section 203 of the Investment Advisers Act of 1940.
The General Partner is the sole general
partner of Harris.
Item 4 Ownership (at November 30, 1996):
(a) By reason of advisory and other relationships with the
persons who own the Shares, Harris may be deemed to be
the beneficial owner of the following Shares:
1,507,900 shares
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<PAGE> (b) Percent of class:(based on 14,209,000 shares
outstanding)
10.61%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
none
(ii) shared power to vote or to direct the
vote: 1,507,900
(iii) sole power to dispose or to direct the
disposition of: none
(iv) shared power to dispose or to direct the
disposition of: 1,507,900
Harris has been granted the power to vote shares in
circumstances it determines to be appropriate in connection
with assisting its advised clients to whom it renders
financial advice in the ordinary course of its business, by
either providing information or advice to the persons having
such power, or by exercising the power to vote when it
determines such action appropriate in connection with
matters which are submitted to a security holder's vote.
In addition, Harris serves as investment adviser to Harris
Associates Investment Trust (the "Trust"), and various of
Harris' officers and directors are also officers and
trustees of the Trust. Harris does not consider that the
Trust is controlled by such persons. The series of the
Trust designated The Oakmark Fund, the Oakmark Small Cap
Fund, and the Oakmark Select Fund each beneficially own
967,900 Shares, 500,000 Shares, and 40,000 Shares,
respectively, and are included as Shares over which Harris
has shared voting and dispositive power and thus as Shares
beneficially owned by Harris, because of Harris' power to
manage the Trust's investments. In addition, other Harris
customers may own Shares which are not included in the
aggregate number of Shares reported herein because Harris is
not deemed the beneficial owner (as defined in Rule 13d-3)
of such Shares.
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another
Person:
The Common Stock reported herein have been acquired on
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<PAGE> behalf of a discretionary and advisory client of Harris.
Of the 1,507,900 Shares of Common Stock indicated as
"shared power to dispose or to direct the disposition of"
all are owned by various series of Harris Associates
Investment Trust designated The Oakmark Fund.
Persons other than Harris are entitled to receive all
dividends from, and proceeds from the sale of, the
securities reported herein. Harris Associates Investment
Trust, as described in Item 4, is presently the only
party which has an interest relating to more than five
percent (5%) of the class of such securities.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 Certification:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired
in the ordinary course of business and were not acquired for
the purpose of and do not have the effect of changing or
influencing the control of the issuer of such securities and
were not acquired in connection with or as a participant in
any transaction having such purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete,
and correct.
Dated: December 6, 1996
Harris Associates, Inc., for itself and,
as general partner for Harris Associates
L.P.
By:/s/Donald Terao
Donald Terao
Secretary and Treasurer
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