SPX to Design and Supply Innovative Indirect Dry Cooling Tower at Power Plant in China
Enhanced Technology Reduces Water Consumption and Improves Energy Efficiency
CHARLOTTE, NC - December 10, 2009 - SPX Corporation (NYSE: SPW) today announced that its Thermal Equipment and Services segment has been awarded a contract of approximately $36 million to design and supply an indirect dry cooling tower (IDCT) system at the Huaneng Qinling Power Plant in China. The 2x660MW coal-fired power plant, owned and operated by Huaneng Shaanxi Qinling Power Generation Co. Ltd., is located in Huayin City, Luofu County, Shaanxi Province and is expected to be operational in early 2011.
SPX Cooling Technologies' indirect dry cooling tower product with patent-pending Mega Delta 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. This is an attractive option for large plants located in arid environments or in areas subject to restrictions on water usage.
China, in particular, has seen a strong demand for dry cooling technology. Its power generation market remains robust and water conservation efforts and policies are top of mind.
"Our deep experience in dry cooling technology allows us to provide power plants of large size with advanced and innovative technologies," said Drew Ladau, SPX segment president. "The Mega Delta technology is a highly efficient solution and very effective in arid conditions. We view China, India and other parts of Southeast Asia as well as Africa as ideal markets for these products today."
Significant advances have been made over the past few years to SPX's indirect dry cooling tower technology, including welded steel tubes for product integrity and large tubes for economical and reliable operation.
As the unit size of power plants continues to grow, modern power plants require higher cooling performance, 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'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 is a Fortune 500 multi-industry manufacturing leader. The company offers highly-specialized engineered solutions to solve critical problems for customers.
SPX is focused on providing solutions that support the expansion of global infrastructure, with particular emphasis on the growing worldwide demand for energy and power. Its innovative product portfolio, containing many energy efficient products, includes cooling systems for power plants throughout the world; custom engineered process equipment that assists a variety of flow processes including food and beverage manufacturing, oil and gas exploration, distribution and refinement and power generation; handheld diagnostic tools that aid in vehicle maintenance and repair; and power transformers that regulate voltage for electrical transmission and distribution by utility companies.
SPX is headquartered in Charlotte, North Carolina and has employees in over 40 countries worldwide. Visit www.spx.com. (NYSE: SPW)
Certain statements in this press release including any statements relating to fulfillment of the terms 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.
Contacts:
Ryan Taylor (Investors)
704-752-4486
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
E-mail: jennifer.epstein@spx.com