SPX Awarded Contract to Provide Indirect Dry Cooling Tower System for Chinese Power Plant

CHARLOTTE, N.C., July 19, 2011 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Thermal Equipment and Services segment has been awarded a contract worth approximately $17 million from the China Datang Technologies & Engineering Co. to manufacture and install an indirect dry cooling tower (IDCT) system for the DatangWu'an power plant.

The DatangWu'an facility is a 2x300 MW coal-fired power plant in the Hebei Province of Eastern China.  The two-unit IDCT system is expected to be operational sometime early next year.

Designed for large power plants located in areas that are arid or subject to restricted water usage, this indirect dry cooling tower system features SPX's patent-pending Mega Delta technology. This technology utilizes a traditional steam surface or jet condenser, a circulating water system and fin tube bundles to dissipate the waste heat using the natural draft created by the concrete cooling towers.

While a two-unit project traditionally requires two housing towers, SPX will design the Wu'an power plant's dual-tower IDCT system for installation in a single tower.  Using a single tower instead of two for the dry cooling system will reduce tower construction costs and require a smaller plot of land to be used at the plant site.  

"Serving two power plant units with a single indirect dry cooling tower system is a significant operational undertaking that requires us to leverage our dry cooling engineering expertise," explained Drew Ladau, SPX segment president.  "To help ensure our performance standards under dual operation, especially in the event of one unit's shutdown, we have designed a complex and innovative engineered water distribution system."

This newest agreement marks the fourth IDCT contract awarded to SPX Cooling Technologies in China in recent years.  SPX has been contracted to supply IDCT cooling systems for other power plants located in Tongchuan, Qingling and Zuoquan.

"Earlier this year, the Chinese government announced its desire to reduce water use per unit of energy output by 7% in 2011, and we believe that leveraging dry cooling systems, which require far less water to operate than wet cooling systems, can help play a role in achieving China's water conservation goals," added Ladau.

SPX Thermal Equipment and Services is a leading global provider of evaporative and hybrid cooling towers and solutions, air-cooled condensers, heat exchangers, air and flue gas systems and filter systems. These technologies support thousands of customers in the power generation, industrial, refrigeration, and heating, ventilation and air conditioning (HVAC) markets.

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 multi-industry manufacturing leader with nearly $5 billion in annual revenue, operations in more than 35 countries and approximately 15,500 employees. The company's highly-specialized, engineered products and technologies serve customers in three primary strategic growth markets: infrastructure, process equipment and diagnostic tools. Many of SPX's innovative solutions are playing a role in helping to meet rising global demand, particularly in emerging markets, for electricity, processed foods and beverages and vehicle services. The company's products include thermal heat transfer equipment for power plants; power transformers for utility companies; process equipment for the food & beverage industry; and diagnostic tools and equipment for the vehicle service industry. For more information, please visit http://www.spx.com/.

Certain statements in this press release including any statements relating to fulfillment of the terms of the referenced contracts, 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 "expect," "believe" 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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