ACHRNEWS

Aug. 6, 2002: SPX Acquires Balcke Cooling Products

August 6, 2002
CHARLOTTE, NC — SPX Corporation announced that it has completed the acquisition of certain assets and subsidiaries of Balcke Cooling Products Group from Babcock Borsig AG.

John B. Blystone, chairman, president, and CEO of SPX Corporation, stated, “The combination of our Marley Cooling Technologies business with Balcke Cooling Products will create a world class platform with operations in the Americas, Asia and Europe. Together, the combined entity will have a comprehensive portfolio of wet and dry cooling technologies to more effectively serve the needs of our customer base.”

While the acquired assets will be integrated with SPX’s Marley Cooling Technologies unit, the business will continue to use the Balcke, Balcke-Duerr, and Ceramic Cooling Tower brands on a global basis. SPX will immediately provide the liquidity and credit backing required for Balcke Cooling to complete existing customer projects and secure new orders.

Based in Oberhausen, Germany, Balcke Cooling designs, manufactures, and markets dry and wet cooling system products in the global power, chemical, petrochemical, and process industries.

Marley Cooling Technologies, Overland Park, KS, designs and manufactures cooling towers for the power generation, industrial, and HVACR markets worldwide.

Publication date: 08/05/2002