The integration of ClydeUnion is a key focus for us this year. As we previously discussed, we have identified significant opportunities to improve ClydeUnion's operating performance. In the first quarter, we implemented several initiatives that have led to improved supply chain management and increased production at ClydeUnion key facilities. This had a positive impact on the Q2 financial performance as ClydeUnion's revenue increased 15% sequentially to $144 million with a 3% return on sales. We're pleased with the progress quarter-to-quarter and we expect to see continued improvement going forward.As part of our improvement plan for ClydeUnion, we initiated restructuring actions during Q2 that include a 5% headcount reduction. We expect savings from these actions to benefit the second half of this year. On the commercial side, we continue to be very encouraged by the consumer reaction to this acquisition. We're now taking quotes that combine ClydeUnion Pumps with other Flow products most notably, control valves.
SPX Management Discusses Q2 2012 Results - Earnings Call Transcript
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