SPX Heat Transfer to Provide Feedwater Heaters for Three Supercritical Coal-Fired Power Units in India

CHARLOTTE, N.C., July 7, 2011 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its subsidiary SPX Heat Transfer Inc. has been awarded a contract of more than $25 million to supply feedwater heaters and spare parts to three supercritical coal-fired power units in India.

The agreement was signed with OJSC Power Machines, which has been tasked with the design, engineering, construction and installation of the BARH Phase I projects, which are being built for Indian energy company National Thermal Power Corp. BARH Phase I units 1, 2 and 3 are expected to generate a combined 1,980 MW of power.

"SPX continues to grow our presence in India's power and energy sector and showcase our broad energy infrastructure engineering capabilities and expertise," said SPX Chairman, President and Chief Executive Officer Christopher J. Kearney. "Securing the opportunity to contribute to a major infrastructure build-out in the world's second-fastest growing economy demonstrates SPX's ability to successfully compete for high-profile projects in emerging markets where energy demand is projected to grow sharply over the coming years."

Plans call for SPX Heat Transfer to manufacture the feedwater heaters at its main facility located in Tulsa, Oklahoma, and ship the units to India.

"This is SPX Heat Transfer's second major order for India since we set out to deliver on our industry-leading expertise, and establish a presence in the rapidly expanding Indian market," said Drew Ladau, SPX segment president.  "We are pleased to continue our collaboration with OJSC Power Machines, and look forward to expanding our operations in India and other areas of the world where there is a demand for increased energy."

The plant uses supercritical steam generation, with water being converted directly into steam without passing through the boiling phase. The feedwater heating component pre-heats the water, and facilitates a more gradual heat transfer, thus improving the thermodynamic efficiency of the entire system.

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