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SPX Corporation
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SPX Corporation issued the following press release on January 6, 2005.
Contact: Jeremy W. Smeltser (Investors) [GRAPHIC OMITTED: SPX LOGO]
704-752-4478
E-mail: investor@spx.com
Tina Betlejewski (Media)
704-752-4454
E-mail: spx@spx.com
SPX COOLING TECHNOLOGIES AND SERVICES RECEIVES $130 MILLION OF
NEW BUSINESS
ANNOUNCES 3-5% GLOBAL PRICE INCREASE FOR DRY COOLING SYSTEMS
CHARLOTTE, NC - January 6, 2005 - SPX Corporation (NYSE:SPW) today
announced that its Cooling Technologies and Services business has been
awarded significant global orders for dry cooling systems with a total
value of over $130 million. The new orders include dry cooling systems that
will be installed at:
o Baode Power Plant in Shanxi province China
o Zhenglan Phase II Power Plant in Inner Mongolia province China
o Bischoffrode Biomass Incineration Plant in Germany
o Samra Power Plant in Jordan
o Longshan Power Plant in Hebei province China
o Dalate Power Plant in Inner Mongolia province China
Commenting on today's announcement, Bill Bouchard, President of EMEA
and the global dry cooling business for SPX Cooling Technologies and
Services said, "Our continued success with the single and multi-row dry
cooling systems confirms SPX as a world leader in the dry cooling market.
We now have over 600 employees in China and are continuing to gain traction
across Asia Pacific. In addition, effective January 1, 2005 we implemented
a 3-5% price increase due to the rising material costs and global demand
for our dry cooling products."
SPX Cooling Technologies and Services is a global leader in products
and services related to thermal engineering for power plants and
industries. With world-renowned brands including Balcke, Hamon Dry Cooling,
Marley and Rothemuhle, the company manufactures and markets a wide range of
equipment for use in applications including wet cooling, dry cooling, heat
exchange, air pollution control and associated services. The company serves
its customers through an extensive network of direct sales, distribution
partners and service representatives worldwide.
SPX Corporation is a global provider of technical products and
systems, industrial products and services, flow technology, cooling
technologies and services, and service solutions. The Internet address for
SPX Corporation's home page is 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 refer to our public filings for a discussion of certain important
factors that relate to forward-looking statements contained in this press
release. The words "believe," "expect," "anticipate," "estimate,"
"guidance," "target" 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.
SPX Corporation shareholders are strongly advised to read the proxy
statement relating to SPX Corporation's 2005 annual meeting of shareholders
when it becomes available, as it will contain important information.
Shareholders will be able to obtain this proxy statement, any amendments or
supplements to the proxy statement and any other documents filed by SPX
Corporation with the Securities and Exchange Commission for free at the
Internet website maintained by the Securities and Exchange Commission at
www.sec.gov. In addition, SPX Corporation will mail the proxy statement to
each shareholder of record on the record date to be established for the
shareholders' meeting. Copies of the proxy statement and any amendments and
supplements to the proxy statement will also be available for free at SPX
Corporation's Internet website at www.spx.com or by writing to Investor
Relations, SPX Corporation, 13515 Ballantyne Corporate Place, Charlotte,
North Carolina 28277, telephone (704) 752-4400.
SPX Corporation, its executive officers and directors may be deemed to
be participants in the solicitation of proxies for SPX Corporation's 2005
annual meeting of shareholders. Information regarding these participants is
contained in a filing under Rule 14a-12 filed by SPX Corporation with the
Securities and Exchange Commission on December 9, 2004.
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