News and Press Releases

SPX Cooling Technologies Launches Revolutionary Solution For Natural Gas Industry

Patent-Pending Design Reduces Terminal Gas Consumption by Over 70 Percent

CHARLOTTE, NC, July 12, 2005 - SPX Corporation (NYSE:SPW) today announced that its Cooling Technologies business has received the first order, valued at over $8 million, for a heating tower that utilizes its new patent-pending heat transfer design. Developed for use in liquid natural gas (LNG) re-gasification terminals, the new design saves over 70% of the energy required by traditional methods to vaporize LNG into natural gas.

“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.