SPX wins $43M in contracts in China

SPX Corp. has won two contracts totaling $43 million to deliver dry-cooling systems for a pair of Chinese power plants.

Dry systems cool power plants using very little water. The process is employed more frequently overseas than in the United States, where water cooling is common.

The contracts were awarded to subsidiaries SPX owns in China.

“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,” says Drew Ladau, president of SPX’s thermal equipment and services segment.

The systems will be installed at the Saliaqi plant in Inner Mongolia and Midong plant in Xinjiang. Both are owned and operated by subsidiaries of Shenhua Group Corp. Ltd., a state-owned energy company that concentrates on coal, power generation and transportation.

The power plants are expected to be operational in 2010. SPX plans to begin installation in late summer or fall.

Charlotte-based SPX (NYSE:SPW) employs more than 17,000 workers worldwide in more than 35 countries.

(Business Journal)

No comments: