SPX to Demonstrate Long-Term Commitment to China Market With Announcement of New $40 Million Manufacturing Campus to be Constructed Near Shanghai

SHANGHAI, Nov. 16, 2010 /PRNewswire/ -- SPX Corporation today reiterated its long-term commitment to China and the Asia-Pacific region with an official ground-breaking ceremony marking the start of construction of its new 53-acre China manufacturing campus, which is being built in the FOHO Economic Development Zone.  

The planned campus represents a $40 million investment by SPX over the next three years to support the company's business expansion in China and facilitate product localization efforts serving both China and global markets.  The campus is intended to provide integrated services for all aspects of SPX business activities in key growth areas: global infrastructure, process equipment and diagnostic tools. In addition to manufacturing, the planned campus will house facilities dedicated to research and development, logistics and customer service functions.

"SPX continues to see significant demand for its products and services in China and the Asia-Pacific region," said SPX Asia-Pacific President Bob Foreman during a ground-breaking ceremony at the site. "This new state-of-the-art manufacturing campus underscores our long-term commitment to growing SPX's presence in China and the broader region. It will strengthen the support we provide to our customers in China, foster greater collaboration across all of our businesses, enhance our products and services and further develop the skills of our nearly 3,000 employees in China.

"More importantly, we believe our increased emphasis on product localization and business consolidation will enable us to further elevate the quality of our services through closer collaboration with our Chinese customers," Foreman added.

Completion of the first phase of the facility is anticipated by the end of 2011. About 1,000 SPX employees are expected to work at the new campus.  The planned campus will include facilities to provide employee training and development opportunities, and serve as an incubator of future leaders in the region. These facilities are also planned to accommodate the education needs of customers and suppliers.

SPX has been in China since 1994 and provides products and services to support China's growing energy infrastructure and is involved in many highly complex engineering solutions in China. SPX has been awarded more than 55 dry cooling projects in China since 2002, representing more than 40 GW of power generation capacity.  The company has also contracted with Westinghouse Electric Co. to provide highly specialized squib valves to four AP 1000 nuclear plants being built in Sanmen and Haiyang.  Two of the new plants are being constructed by Sanmen Nuclear Power Company Ltd. and the other two by Shandong Nuclear Power Company Ltd.  

SPX also offers food and beverage systems to meet the increasing demand for high quality processing solutions for China's rapidly expanding food industry. And the company has taken strategic steps to enhance its portfolio of highly-engineered diagnostic tools and custom services for China's growing automotive industry.

About SPX

SPX Corporation (NYSE: SPW) is a Fortune 500 multi-industry manufacturing leader that provides its customers with highly-specialized, engineered solutions to solve critical business issues.

SPX products and technologies play an important role in the expansion of global infrastructure to help meet increased demand for power and energy and support many different sources of power generation, including coal and natural gas, nuclear, solar and geothermal. The company's innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; highly advanced food processing components and turnkey, scalable systems serving the global food and beverage industry; process equipment that assists a variety of flow processes including oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that allow utility companies to regulate electric voltage, transmission and distribution.

With headquarters in Charlotte, North Carolina, SPX has 15,000 employees in more than 35 countries worldwide. Visit http://www.spx.com/.

Certain statements in this press release, including any statements relating to job creation or other plans relating to the China Manufacturing Campus, may be forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and are subject to the safe harbor created thereby. Please refer to our public filings for a discussion of certain important factors that relate to forward-looking statements contained in this press release. The word "expected," "anticipated," "agreed," and similar expressions may identify forward-looking statements. Although the company believes that the expectations reflected in its forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Statements in the press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.

SOURCE SPX Corporation

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