SPX Awarded Approximately $50 Million Order to Provide ClearSky™ Cooling Towers for a Coal Liquefaction Process Facility in China

CHARLOTTE, N.C., Sept. 5, 2014 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that it was awarded an order valued at approximately $50 million to provide ClearSky™ Plume Abatement Cooling Systems for a coal liquefaction process facility to be built by Shenhua Ningxia Coal Industry Group.

SPX has agreed to provide SPX Marley ClearSky™ Plume Abatement Systems, with the latest cooling technology of recycling of condensed steam, for Shenhua's indirect coal liquefaction process facility to be built in the Lingwu Ning Dong coal chemical industry.  This facility is expected to process approximately four million tons of indirect coal liquefaction per year. 

"Our ClearSky™ Plume Abatement technology is a leading-edge solution that substantially eliminates the steam plume that is highly visible on traditional evaporative cooling systems.  It also offers our customers lower installation and operating costs, significantly reduced water consumption, improved permitting and increased safety over alternative cooling solutions," said Gene Lowe, President, SPX Thermal Equipment and Services segment.  "This is a significant win for us and further validates our reputation as a global leader in cooling tower innovation.  To date, this represents the largest order for our ClearSky™ technology and our first significant installation in China." 

In China, SPX cooling towers are in use at many power plants, as well as major sports and cultural venues including the Beijing Olympic stadium, the Shanghai Expo, and the subway lines in Shanghai, Beijing and Guangzhou.

SPX provides a broad offering of patented cooling technologies including advanced evaporative and dry cooling solutions into power, industrial and HVAC applications worldwide.

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global, multi-industry manufacturing leader with approximately $5 billion in annual revenue, operations in more than 35 countries and over 14,000 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, including any relating to SPX performance under or completion of the contract, 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 these results 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. 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.

SOURCE SPX Corporation