CHARLOTTE, N.C. - SPX Corporation announced that it has signed a multi-year agreement to develop a state-of-the-art manufacturing facility in Tianjin, China. The new operation will be developed in cooperation with Tianjin Economic Development Area (TEDA) and will employ over 200 people dedicated to production of advanced Single-Row Air Cooled Condenser (ACC) technology.

According to the company, the growing Chinese market will consume most of this new manufacturing capacity, with the additional capacity available for the global market. With the new facility, SPX's investment in the Cooling Technologies and Services platform in China is approaching $15 million, including an existing joint venture Multi-Row manufacturing base already in operation at Zhangjiakou, in the Hubei province.

Jay Caraviello, president of SPX Cooling Technologies and Services, said, "We are committed to the Chinese market as evidenced by the company's latest investment in new technology locally. With SPX's financial strength, we will continue to expand our presence to support the growing ACC dry cooling segment of the cooling systems market in Asia."

SPX's recent acquisitions, Balcke Duerr Dry Cooling and Hamon Dry Cooling ACC, will now jointly operate as SPX Dry Cooling. The company's new customer support office in Beijing provides local project management and service for the contracts already awarded to both the Balcke Duerr and Hamon Dry Cooling teams.

For more information, visit www.spx.com.

Publication date: 03/01/2004