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SPX Secures Approximately $40 Million in New Dry Cooling System Orders for Power Plants in Indonesia, Jordan and Mexico

May 30, 2013

CHARLOTTE, N.C., May 30, 2013 /PRNewswire/ — SPX Corporation (NYSE: SPW) today announced that its Thermal Equipment and Services segment has been awarded new orders for dry cooling systems for three different power plants in Indonesia, Jordan and Mexico totaling approximately $40 million.

Under the terms of the contracts, SPX will provide air cooled condensers (ACC) to a 2×140 MW coal-fired power plant in Babelan, Indonesia, to the SAMRA III 140 MW add-on combined cycle power plant in Al Zarqa, Jordan, and to a 205 MW combined cycle power plant in San Luis de la Paz, Mexico.

“As emerging and developed countries around the world continue to expand their energy infrastructure to meet growing demand for electricity, we continue to see demand for our highly efficient dry cooling technologies for power plants,” said Gene Lowe, SPX segment president. “SPX’s air cooled condensers are a popular cooling system choice for power producers operating various types of power plants in dry climates where water usage is restricted or where water is in low supply.”

While dry cooling technology is widely utilized for coal-fired power plants as well as combined cycle natural gas and waste incineration plants, it is also increasingly being applied in renewable energy generation including solar thermal and biomass plants. With these orders on three different continents SPX continues to demonstrate its position as a leading provider of highly innovative dry cooling technology.

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global Fortune 500 multi-industry manufacturing leader with over $5 billion in annual revenue, operations in more than 35 countries and over 15,000 employees. The company’s highly-specialized, engineered products and technologies are concentrated in Flow Technology and energy infrastructure. Many of SPX’s innovative solutions are playing a role in helping to meet rising global demand for electricity and processed foods and beverages, particularly in emerging markets. The company’s products include food processing systems for the food and beverage industry, critical Flow components for oil and gas processing, power transformers for utility companies, and cooling systems for power plants. For more information, please visit www.spx.com.

Certain statements in this press release are 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 read this press release in conjunction with the company’s documents filed with the Securities and Exchange Commission, including the company’s annual reports on Form 10-K, and any amendments thereto, and quarterly reports on Form 10-Q. These filings identify important risk factors and other uncertainties that could cause actual results to differ from those contained in the forward-looking statements. Actual results may differ materially from these statements. The words “believe,” “expect,” “anticipate,” “project” and similar expressions 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. In addition, estimates of future operating results are based on the company’s current complement of businesses, which is subject to change. Statements in this press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.

    Contacts:

    Ryan Taylor (Investors)                  Jennifer H. Epstein (Media)

    704-752-4486                             704-752-7403

    E-mail: investor@spx.com                 E-mail: jennifer.epstein@spx.com

SOURCE SPX Corporation


Source: PR Newswire