Barron’s Magazine
SPX ranked #21 overall on this year’s list (up from #43 in 2008), earning a cumulative grade-point average of 3.67 out of a possible 4.0. The Barron’s 500 rankings, including detailed information about the methodology, can be found in the May 11, 2009 issue of Barron’s.
“SPX is pleased and honored to be among the top 25 companies in this year’s Barron’s 500 rankings,“ said Chris Kearney, chairman, president and chief executive officer of SPX. “Most importantly, this recognition is a testament to the strong commitment and collective accomplishments of our employees around the world.“
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 employs more than 17,000 people worldwide in over 40 countries.
]]>“Our dry cooling systems help reduce the water consumption by approximately 90 percent as compared to other types of cooling systems, which is in line with the efforts and policies of the Chinese authorities to save water resources,“ said Drew Ladau, SPX segment president.“
The two power plants are expected to be operational in 2010. It is anticipated that the installation of the cooling systems for these facilities will begin in third quarter, 2009.
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 employs more than 17,000 people worldwide in over 35 countries. Visit http://www.spx.com. (NYSE: SPW)
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 “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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
E-mail: jennifer.epstein@spx.com
“Our highly efficient filters and airpreheaters will help reduce emissions and enhance the productivity of Kusile,“ said Drew Ladau, SPX segment president. “We’re pleased to work with Hitachi Power Africa in helping South Africa meet its increasing demand for electric power.“
Kusile, formerly referred to as Project Bravo, is the second of two coal-fired power stations being built by Eskom, South Africa’s state-owned utility company. Eskom has awarded a contract to a consortium of Hitachi Power Europe and its subsidiary Hitachi Power Africa to manufacture, build and supply steam generators for the approximately 4,800 megawatt station, which will be constructed in Mpumalanga province, east of Johannesburg, South Africa.
Under the present contract, SPX has agreed to provide Balcke Duerr branded pulse jet fabric filters and airpreheaters, as well as manufacture pressure parts for the boilers at the plant. Eskom expects the first generating unit at the Kusile station to be completed in late 2012, followed by the completion of additional units every six months. SPX has previously reported that it also will provide feedwater heaters and air-cooled condensers for this facility.
The first coal-fired plant to be built in South Africa in 20 years is the 4,788 megawatt Medupi Power Station, also owned by Eskom, which is being built near Lephalale, in the Limpopo province. SPX has previously announced that it will supply Balcke Duerr branded pulse jet fabric filters and airpreheaters, and manufacture pressure parts for six 800-megawatt boilers at the Medupi station. The first generating unit is expected to be completed in 2011.
SPX established its manufacturing presence in Nigel, South Africa, in 1970. The company expanded its manufacturing capacity at Nigel earlier this year.
SPX’s South African subsidiary, the recipient of this contract award, has a Black Economic Empowerment minority shareholder, which holds an interest of 25.1%.
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 employs more than 17,000 people worldwide in over 35 countries. Visit http://www.spx.com. (NYSE: SPW)
Certain statements in this press release 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 “scheduled” 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. 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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
E-mail: jennifer.epstein@spx.com
About SPX Cooling Technologies
Based in Overland Park, Kansas, SPX Cooling Technologies, which is made up of SPX Cooling Technologies, Inc. and other SPX Corporation affiliates, is a world- leading manufacturer of cooling towers and air-cooled heat exchangers. The business designs, manufactures and markets wet, dry, and hybrid technologies for power generation, industrial, refrigeration, and HVAC markets worldwide. SPX Cooling Technologies is a full-line, full-service business offering complete design engineering, construction, thermal enhancements/productivity, reconstruction services, and cold-water outsourcing. For more information about SPX Cooling Technologies and its products, visit http://www.spxcooling.com. 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 http://www.spx.com.
]]>“Our products will help create one of the most modern and efficient geothermal facilities in the world,“ said Drew Ladau, President of SPX Thermal Equipment and Services.
“Iceland is a world leader in geothermal power generation and we’re pleased to play a role in helping build their energy infrastructure.“
The SPX components are slated for OR’s five planned geothermal power plants to be built at the base of Hengill volcano in Iceland. Under the terms of the contract, SPX will supply a complete cold-end solution for the plants, which includes engineering, design, manufacturing, and installation of a steam condensing system utilizing multiple SPX heat exchangers.
The new geothermal power plants, which use hot steam from within the earth to produce electricity, are anticipated to begin operation in 2010-2011 and have a total output of 225 MW. “We are pleased to support OR in the expansion of their geothermal power generation,“ Ladau added. “With growing global pressure to increase generation from renewable sources, SPX is continuing its tradition of supplying optimized solutions for these severe duty applications.“
SPX executives were present for the ceremony along with Iceland’s President, Olafur Ragnar Grimsson and the German ambassador in Iceland, Dr. Karl-Ulrich Müller.
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 environmentally friendly 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 employs more than 17,000 people worldwide in over 35 countries. Visit http://www.spx.com. (NYSE: SPW)
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 these results in conjunction with the company’s documents filed with the Securities and Exchange Commission, including the company’s annual report on Form 10-K for the year ended December 31, 2007. 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 “slated,“ “anticipated” 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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
jennifer.epstein@spx.com
“South Africa is on the horizon as the next growth region. We have a strong commitment to growing our business here over the long term and continuing to invest in our facilities and employee base,“ said Mr. Kearney.
In December 2007, SPX’s Thermal Equipment and Services affiliate was awarded a $235 million contract from Hitachi Power Africa (Pty) Ltd., a subsidiary of Hitachi Power Europe GmbH (HPE) to provide critical products for South Africa’s new Medupi power station. Under the terms of the contract, SPX will supply Balcke-Dürr branded pulse jet fabric filters and air pre-heaters, which are designed to help reduce emissions and enhance the productivity and efficiency of the Medupi plant. SPX will also provide pressure parts for six 800 MW boilers.
“We look forward to working with Hitachi on outfitting Eskom’s new Medupi power plant and to future opportunities in which SPX can assist with the South African government’s broader energy infrastructure initiatives,“ added Kearney.
Kearney was in South Africa to meet with customers, including Hitachi Power Africa, and tour SPX facilities such as the company’s Nigel factory, where a facility expansion is to begin this month. The expanded facility is expected to be completed in November 2008. Kearney also met with employees to discuss his commitment to South Africa and share with them his strategy for growing the business.
SPX’s family of companies in South Africa includes SPX Cooling Technologies/DB Thermal and Balcke-Dürr. These business units supply cooling towers and thermal components for power plants and serve as a major provider of service for existing power plants in South Africa, including upgrades of Eskom’s fleet of existing power plants. Most recently, the companies played an integral role in “Return to Service” projects at a number of the country’s power plants, including Camden, Komati and Grootvlei.
SPX has approximately 500 permanent and contract employees working at offices in Woodmead and Nigel and at four major sites: Camden, Komati, Sasol Secunda and KBR Sasol. Engineers, project managers and workers comprise the employee base. The company also has 50 employees working for its process equipment business in the region.
SPX has in recent years provided expertise to large mechanical construction projects in South Africa, including the FTDR plant for Sasol. The company has been involved in various international projects, notably the EPR Nuclear Plant in Olkiluotto, Finland. Here SPX supplied four high pressure heaters, 120 tons each, to the project. The heaters were manufactured in South Africa.
SPX also recently provided waste heat boilers for a new wet sulphuric acid plant in Secunda. The plant’s goal is to reduce sulphur emissions to the environment.
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 environmentally friendly products, includes cooling systems for all types of power plants throughout the world; custom engineered pumps, valves and mixers that assist a variety of flow processes including oil and gas exploration, distribution and refinement; 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 employs over 17,000 people worldwide in over 35 countries. Visit http://www.spx.com.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
jennifer.epstein@spx.com
“A typical coal plant of this size could consume over eight million gallons of water each day. By utilizing our air cooled condenser technology, we are enabling the production of this power, condensing three million pounds of steam per hour, without the typical massive water consumption,” said Drew Ladau, President of SPX Thermal Equipment and Services.
The clean-coal power plant will use advanced circulating fluidized bed technology, which is recognized by the U.S. Department of Energy as a clean-coal technology for reducing sulfur dioxide and nitrogen oxide.
This modern facility will have the capacity to generate enough power for approximately 146,000 residential customers. Construction will begin on the project next year and it is anticipated to be operational by the summer of 2012.
“SPX is in the business of developing smart energy solutions for our customers. Our dry cooling technology is being used throughout the United States and in over 30 countries including Australia, Mexico, Canada, China and throughout Europe,” Ladau added.
The Shaw Group Inc. is a leading global provider of technology, engineering, procurement, construction, maintenance, fabrication, manufacturing, consulting, remediation and facilities management services for government and private sector clients in the energy, chemical, environmental, infrastructure and emergency response markets. A Fortune 500 company with nearly $6 billion in annual revenues, Shaw is headquartered in Baton Rouge, La., and employs approximately 27,000 people at its offices and operations in North America, South America, Europe, the Middle East and the Asia-Pacific region. For further information, please visit Shaw’s Web site at http://www.shawgrp.com.
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 environmentally friendly products, includes cooling systems for all types of power plants throughout the world; custom engineered pumps, valves and mixers that assist a variety of flow processes including oil and gas exploration, distribution and refinement; 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 employs over 14,000 people worldwide in over 20 countries. Visit http://www.spx.com. (NYSE: SPW)
Certain statements in this press release 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 “anticipated” 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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
E-mail: jennifer.epstein@spx.com
SPX (Exhibitor Booth #2001) issued the announcement on the opening day of POWER-GEN International 2007, the world’s largest power generation event, taking place in New Orleans, Louisiana.
“The Marley Air2Air™ water recovery system is the most advanced water-saving solution available for wet cooled power plants, and it reduces water consumption while maintaining overall steam turbine efficiency,” said Tom Dendy, Director of Global Marketing & Development at SPX Thermal Equipment & Services. “The typical 500-megawatt, coal plant in the U.S. uses roughly 30,000 tons of water each day. A cooling tower fitted with SPX’s Air2Air™ technology can reclaim up to 10,000 tons of water each day, or enough to provide 6,000 households with water. On an even broader scale, we believe our technology can make a significant contribution to global water conservation efforts.”
As the seventh-largest coal-fired generating station in the western United States, San Juan is PNM’s primary power generation source, serving 58 percent of PNM’s customers. The plant’s newly enhanced cooling system uses the evaporation of water to dissipate the heat from power plants’ steam condensers. By evaporating a portion of the circulating water flow through the cooling tower, the remaining water is cooled. SPX’s Air2Air technology then recovers a portion of the evaporated water, condenses it, and retains it in the tower system.
“In addition to reducing water consumption and treatment costs, coal-fired power plants that utilize SPX’s Air2Air water recovery system can achieve greater overall productivity, and even replace more costly means of generating pure water,” added Dendy. “Recovered water can be returned directly to the tower basin, or even piped away as a pure water stream for boiler make-up or other plant uses.”
The full-scale water conservation installation at the San Juan Generating Station is being funded in part by a three-year research grant from the U.S. Department of Energy, National Energy Technology Laboratory (DOE/NETL) – which estimates that U.S. power plant cooling towers evaporate three billion gallons of water each day.
The performance of the tower and water recovery system at San Juan is being monitored remotely with a wireless satellite monitoring and collection system supplied by SPX Flash Technologies. Utilizing the latest in wireless detector technology, design engineers from SPX Cooling Technologies can continuously monitor the performance and operation of the unit and provide live feedback and operating recommendations to plant operators in New Mexico.
“With the cooperation of PNM and SPX Flash, we are able to closely monitor and validate the performance of the water recovery system,” said Glenn Brenneke, Vice President of Research & Development for SPX Thermal Equipment & Services. “This will enable us to collect a complete set of operating data to assess the system over a full range of plant and weather conditions.”
SPX’s relationship with PNM dates back to 1975, when the company undertook installation of a wet/dry tower at the San Juan station to address the issue of water availability. Completed in 1978, the tower began commercial operation in 1979. Testing in 1980 found the tower exceeded design requirements in both thermal performance and water conservation.
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 environmentally friendly products, includes cooling systems for all types of power plants throughout the world; custom engineered pumps, valves and mixers that assist a variety of flow processes including oil and gas exploration, distribution and refinement; 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 employs over 14,000 people worldwide in over 20 countries. Visit http://www.spx.com.
Certain statements in this press release 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 words “believe,“ “expect,“ 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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Jennifer H. Epstein (Media)
704-752-7403
E-mail: jennifer.epstein@spx.com
Drew Ladau, President of SPX Cooling Technologies said, “While we continue to see strong demand for dry cooling systems in the power generation market in China and other regions, this project illustrates the additional growth that we are experiencing in other applications.“
The Shell Pearl complex is planned to be a multi billion dollar facility that will convert natural gas into 140,000 barrels per day of liquid hydrocarbon products. The plant is designed to produce a range of environmentally friendly synthetic fuels including naphtha, gas to liquids (GTL) fuel, normal paraffins, kerosene and lubricant base oils. GTL fuel is the largest component of the product slate and can be used in existing light and heavy-duty diesel engines. With lower emissions at point of use, GTL fuel can play a major role in reducing local air pollution in cities and provide a strategic diversification of liquid transport fuel for importing countries. The Shell Pearl complex is expected to begin production in late 2009.
SPX Cooling Technologies, which includes SPX Cooling Technologies, Inc. and other SPX affiliates, 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 and Marley, 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 leading global provider of flow technology, test and measurement solutions, thermal equipment and services and industrial products and services. For more information visit the company’s web site at http://www.spx.com.
Certain statements in this press release 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 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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Tina L. Betlejewski (Media)
704-752-4454
E-mail: spx@spx.com
About SPX Cooling Technologies
Based in Overland Park, Kansas, SPX Cooling Technologies, which is made up of SPX Cooling Technologies, Inc. and other SPX Corporation affiliates, is a world-leading manufacturer of cooling towers and air-cooled heat exchangers. The business designs, manufactures and markets wet, dry, and hybrid technologies for power generation, industrial, refrigeration, and HVAC markets worldwide. SPX Cooling Technologies is a full-line, full-service business offering complete design engineering, construction, thermal enhancements/productivity, reconstruction services, and cold-water outsourcing. For more information about SPX Cooling Technologies and its products, visit http://www.spxcooling.com. 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 http://www.spx.com.
]]>As part of the project, SPX Cooling Technologies, Inc. will install a full-scale Air2Air™ equipped cooling tower in an existing U.S. power plant. “Several power plant operators have expressed an interest in this technology,“ said Drew Ladau, President of SPX Cooling Technologies. “We’re in the final stages of our site selection process and expect to start construction of the test tower later this year.“
Evaporative cooling towers are one of the largest consumers of water in the United States. SPX’s patented Air2Air™ technology is designed to recover approximately 20% of the water evaporated in a cooling tower. According to the DOE/NETL, in the United States alone, power plant cooling towers evaporate an estimated 3 billion gallons of water a day.
Under Section 979 of the Energy Policy Act of 2005, the DOE is required to address issues related to adequate water supplies, optimal management, and efficient use of water and energy. The DOE/NETL Innovation for Existing Plants program has established a goal of reducing power plant freshwater withdrawals by a minimum of 5-10% by the year 2015. SPX’s Air2Air&trade technology represents an opportunity to provide water capacity to many water-starved portions of the United States.
Mr. Ladau said, “With the help of the Department of Energy, this research will accelerate the testing and development process to deliver a breakthrough technology that we believe will go a long way towards achieving the DOE’s 5-10% water conservation goal.“
SPX Cooling Technologies 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 and Marley, the business 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. SPX Cooling Technologies serves its customers through an extensive network of direct sales, distribution partners and service representatives worldwide.
SPX Corporation is a leading global provider of thermal equipment and services, flow technology, test and measurement solutions and industrial products and services. For more information visit the company’s web site at http://www.spx.com.
Certain statements in this press release 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 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.
Contact:
Jeremy W. Smeltser (Investors)
704-752-4478
E-mail: investor@spx.com
Tina L. Betlejewski (Media)
704-752-4454
E-mail: spx@spx.com
“The high price and growing demand for natural gas are providing a strong incentive for the development of LNG import terminals,“ said Bill Bouchard, President of SPX Cooling Technologies. “Today, the US Department of Energy has a list of over 50 proposed LNG terminals for North America. In this competitive environment, terminal operators and developers are searching for ways to reduce the costs associated with LNG re-vaporization.“
SPX’s LNG heating towers are custom designed, employing a range of innovative air handling configurations combined with standard water distribution and heat transfer media. The towers can be uniquely optimized based on each customer’s physical, technical and financial requirements. Each installation is designed to deliver optimal performance based on the specific weather and wind patterns at the terminal site. By utilizing statistical design and operations models, SPX has the ability to select the right product that delivers maximum value under all seasonal conditions.
SPX Cooling Technologies 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 and Marley, 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 leading global provider of thermal equipment and services, flow technology, test and measurement solutions and industrial products and services. For more information visit the company’s web site at www.spx.com.
Certain statements in this press release 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 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.
]]>Under the agreement, SPX Cooling Technologies and Services will private-label two of its Marley brand crossflow, factory-assembled cooling towers for Trane, with shipments beginning in the fourth quarter of this year. The cooling towers will be part of the Trane Series Standard and Series Quiet commercial air conditioning systems distributed in North America and South America.
“This unique partnership brings together two well-respected brands in the industry and two organizations that share the same business philosophy of delivering full customer solutions,“ said Jay Caraviello, President of SPX Cooling Technologies and Services. “Trane has a very loyal customer base - customers that identify with and derive value from the Trane brand. This agreement provides for Trane to supply a full cooling solution to its customers and allows us to leverage that customer loyalty.“
SPX Cooling Technologies and Services is the world’s leading full-line cooling tower and air-cooled condenser manufacturer. With customer support personnel and engineers able to offer creative solutions and knowledgeable support, the company can provide the customer responsiveness and short lead times required to provide the best cooling tower solution to meet Trane’s business needs.
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 Rothemülle, 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.
]]>Working in collaboration with Ceramic Composites, a leading developer of advanced ceramic and composite materials, SPX Cooling Technologies and Services will use a portion of the grant to research the application of carbon foam within its proven air-cooled condenser technology. The benefits of such a system could include the minimization or elimination of organism intake, warm water discharge, wet or hybrid tower evaporation, pumping system maintenance, materials of construction corrosion, and internal power consumption through fans and pumps. In addition, the implementation of this state-of-the-art technology will allow power plants to better meet the standards of the Clean Water Act §316(b), which requires new and existing power plants to prevent adverse environmental impacts to aquatic organisms.
“Over the past several years, the majority of our research and development efforts have centered on technology innovations that conserve water and reduce waste,“ said Jay Caraviello, President of SPX Cooling Technologies and Services. “This grant provides a great opportunity for us to work with the Department of Energy, in collaboration with Ceramic Composites, to examine the many ways in which the power industry and the environment can benefit from our technologies.“
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 Rothemülle, 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 http://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.
]]>