SPX Awarded Contract to Provide Cooling System for Large Combined Cycle Power Plant to be Built in Israel

SPX Awarded Contract to Provide Cooling System for Large Combined Cycle Power
                         Plant to be Built in Israel

PR Newswire

CHARLOTTE, N.C., March 27, 2013

CHARLOTTE, N.C., March 27, 2013 /PRNewswire/ --SPX Corporation today
announced that its Thermal Equipment and Services segment has been awarded a
contract worth approximately$35 million to supply an air-cooled condenser
(ACC) for a new 835 MW natural gas-fired, combined cycle power plant scheduled
to be constructed in Israel. The contract was awarded by Alstom, which was
previously awarded the engineering, procurement and construction (EPC)
contract for the plant by Dalia Power Energies Ltd. A portion of SPX's
contract was received in Q4 2012 and was included in backlog reported at year
end.

Featuring two 417 MW, gas-fired combined cycle units, the Tzafit plant is
expected to be the country's largest privately-owned power station. Located 40
kilometers southeast of Tel Aviv, the plant is scheduled to be commissioned in
2014, and add 835 MW to the national grid, representing roughly seven percent
of Israel's installed power generation capacity.

"The Tzafit combined cycle power plant represents a significant power
infrastructure expansion for Israel and is expected to sharply increase the
country's ability to meet future electricity demand," said Gene Lowe, SPX
segment president. "We have enjoyed a long and productive working relationship
with Alstom, and look forward to collaborating with them and leveraging our
air cooled condenser technology to establish a state-of-the-art cooling
solution for Israel's new Tzafit power plant."

According to Israel's Ministry of Energy and Water Resources, electricity
consumption in Israel is expected to double in the next 20 years as a result
of population growth, rising living standards and climate changes. Due to its
location at the intersection of Israel's national electricity grid, the Tzafit
combined cycle power plant is expected to feed additional electricity to the
northern and southern sections of the grid, and thereby increase the
reliability of the overall electricity supply.

Diminishing water resources and increased water pollution concerns have led to
the growth of dry cooling systems worldwide. An air cooled condenser is made
of modules arranged in parallel rows, with each module containing a number of
fin tube bundles. An axial flow, forced-draft fan located in each module
forces the cooling air across the heat exchange area of the fin tubes. This
technology allows for the elimination of water usage from the condensing power
cycle, as well as flexibility in power plant site selection and decreased time
required for plant permitting.

SPX Thermal Equipment and Services is a leading global provider of evaporative
and hybrid cooling towers and solutions, air-cooled condensers, heat
exchangers, air and flue gas systems and filter systems. These technologies
support thousands of customers in the power generation, industrial,
refrigeration, and heating, ventilation and air conditioning (HVAC) markets.

About SPX

Based in Charlotte, North Carolina, SPX Corporation (NYSE: SPW) is a global
Fortune 500 multi-industry manufacturing leader with over $5 billion in annual
revenue, operations in more than 35 countries and approximately 15,000
employees. The company's highly-specialized, engineered products and
technologies are concentrated in Flow Technology and energy infrastructure.
Many of SPX's innovative solutions are playing a role in helping to meet
rising global demand for electricity and processed foods and beverages,
particularly in emerging markets. The company's key products include food
processing systems for the food and beverage industry, critical pumps and
valves used in oil & gas processing, power transformers used by utility
companies, and heat transfer technology for power plants. For more
information, please visit 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 read this press
release in conjunction with the company's documents filed with the Securities
and Exchange Commission, including the company's annual reports on Form 10-K,
and any amendments thereto, and quarterly reports on Form 10-Q. 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 "believe," "expect," "anticipate," "project" 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. Statements in
this press release speak only as of the date of this press release, and SPX
disclaims any responsibility to update or revise such statements.

Contacts:
Ryan Taylor (Investors)
704-752-4486
E-mail:investor@spx.com

Jennifer H. Epstein (Media)
704-752-7403
E-mail:jennifer.epstein@spx.com

SOURCE SPX Corporation

Website: http://www.spx.com