SPX
To Design And Manufacture State-Of-The-Art Equipment For
Solar Energy Market
CHARLOTTE, NC – July 30, 2007 – SPX Corporation
(NYSE: SPW) today announced its Kayex business was awarded
a contract to design and manufacture state-of-the-art crystal
growing equipment to support the rapid growth of the silicon-based
solar energy market. The contract is with NorSun AS, a producer
of mono crystalline ingots and wafers for the international
solar industry. NorSun is headquartered in Oslo, Norway.
John Way, a division president of SPX, said, "SPX is
focused on helping to build global infrastructure. The growth
in the solar energy market allows SPX additional opportunities
to provide energy solutions for our customers. We are pleased
to help NorSun become a significant manufacturer of solar
materials by using our expertise and technology."
The contract is valued at $40 million. Shipment of equipment
is scheduled to begin in the third quarter of 2007.
Way said this contract further strengthens the position
of Kayex as a major global provider of mono crystalline equipment.
Kayex's technology grows polysilicon into crystal ingots
that are the base material for producing solar cells. These
new crystal growing machines will primarily be installed
in NorSun's new solar wafer facility in Ardal, Norway. Once
fully operational this facility will be among the largest
of its kind in the world.
"Norway is fast becoming a center for excellence in
solar production," Way added.
Kayex, a business unit of SPX Corporation, is a leading
provider of crystal growing technology to the solar and semiconductor
industries. Based in Rochester, New York, Kayex has solar
equipment installations 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 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
more than 14,000 people worldwide in over 20 countries. Visit
www.spx.com (NYSE: SPW).
Certain statements in this press release, including any
statements as to future results of operations or market opportunities,
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.
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