News: Press Releases: SPX Clarifies Press Release announcing contracts to provide expertise and highly-engineered products for nuclear power plants in China August 2, 2007 - SPX today clarified a press release issued July 30 concerning contracts it received for power plant projects in China. That release stated that: "The valve design fees will be funded in part by the U.S. Department of Energy [DOE] in the amount of approximately $2.2 million, which represents 50% of the development costs." Although the press release mentioned that the design would also be applied to possible U.S. projects, the wording may have inadvertently left the impression that the DOE cost-shared activities are part of the China project. SPX would like to clarify that the DOE cost-shared activities are, in fact, being applied to development of the standardized AP1000 nuclear plant design, under the DOE Nuclear Power 2010 program - which is focused upon regulatory approvals and near-term deployment in U.S. projects. Copes-Vulcan Product Stories: Power Engineering Equipment Wrapup (pdf viewing, 650KB)
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