SPX Awarded Contract to Install Indirect Dry Cooling Towers at Power Plant in China

CHARLOTTE, N.C., May 25 /PRNewswire-FirstCall/ -- SPX Corporation (NYSE: SPW) today announced that its Thermal Equipment and Services segment has been awarded a contract worth approximately $33 million to design and supply an indirect dry cooling tower system, which includes two natural draft cooling towers, at the HuaNeng Shanxi ZuoQuan Power Plant in China.

The 2x660MW coal-fired power plant, owned and operated by HuaNeng Power International, is located in Jinzhong City, Zuoquan County, Shanxi Province and is expected to be operational in late 2011.

Ideal for large power plants located in areas that are arid or subject to restricted water usage, SPX Cooling Technologies' indirect dry cooling tower system features SPX's patent-pending Mega Delta technology.  This technology utilizes a traditional steam surface or jet condenser and a circulating water system to transfer the waste heat to natural draft concrete cooling towers using air-cooled heat exchanger bundles.

In recent years, dry cooling technology has seen elevated demand in China as the country's power generation market continues to grow and water conservation efforts and policies remain a top priority for the Chinese government and its efforts to expand the country's energy infrastructure.

"As the demand for power generation increases in countries such as China, India and across other areas of Southeast Asia and Africa, the need for advanced dry cooling technology that can operate efficiently in arid environments continues to grow," said Drew Ladau, SPX segment president. "Our experience and expertise in dry cooling technology allows us to provide large power plants in these regions with advanced, innovative cooling solutions to meet their power generation and environmental needs."

As the development of global energy infrastructure expands, the unit size of power plants continues to grow, requiring larger cooling surfaces and tower sizes.  SPX has responded to this challenge by developing a two-level cooling delta arrangement that is designed to provide higher cooling efficiency at a reasonable cost and a more economical system operation.  SPX has also made other significant advances to the indirect dry cooling tower technology, including welded steel tubes for product integrity and large tubes for economical and reliable operation.  

In December 2009, SPX announced that it had agreed to design and supply an indirect dry cooling tower system at the Huaneng Qinling Power Plant in China. That 2x660MW coal-fired power plant is expected to be operational in 2011.

SPX's Thermal Equipment and Services segment is a leading provider of wet, dry and hybrid cooling towers, heat exchanges, air and flue gas systems and filter systems, utilized by thousands of power stations and plants in more than 60 countries across six continents.  The segment's broad offering enables the maintaining, refurbishing, upgrading and modernizing of power stations, and includes a wide range of aftermarket services and solutions.

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 www.spx.com.

Certain statements in this press release including any statements relating to fulfillment of the referenced contract, 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" 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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