Press Releases

CHARLOTTE, N.C. and SHANGHAI, China, Feb. 9, 2012 /PRNewswire/ -- SPX Corporation (NYSE: SPW) today announced that its Flow Technology segment has been awarded a contract worth approximately $40 million by Bright Dairy & Food Co., Ltd. to establish a new dairy processing plant in Shanghai, China capable of producing pasteurized fresh milk, ultra-high temperature (UHT) long shelf life milk and yogurt. When completed, the new plant is expected to be one of the largest fresh dairy and yogurt plants in China. The contract was announced at a special ceremony in Shanghai featuring senior executives from both companies.

Under the terms of the contract, SPX will design and install a series of full-line fresh dairy and yogurt processing systems in Bright Dairy's 155,000-square-meter facility, now under construction in Shanghai. The plant is expected to significantly expand Bright Dairy's overall dairy production capacity to more than 2.1 million liters per day, and will bring the company's production of fresh dairy milk and yogurt under one roof for the first time. The plant's state-of-the-art dairy processing systems will feature recent innovations from SPX's APV business, a market leader in the industry.

"Bright Dairy is one of the largest dairy companies in China, and is well positioned to help meet growing demand across China for fresh milk, ultra-high temperature long shelf life milk and yogurt," said Don Canterna, SPX segment president. "We look forward to leveraging our deep expertise in dairy processing technologies to help Bright Dairy establish the largest multi-product dairy facility in China's dairy industry."

According to research firm Euromonitor International, China's overall dairy sales reached $28 billion in 2011, up 8.5% from the previous year, and are projected to reach nearly $40 billion in the year 2014. Sales of stirred, drinking and functional yogurt in China, the main types of yogurts to be produced by the new Bright Dairy facility, are projected to grow by as much as 20 percent over the next two years.

"This plant will utilize SPX's latest innovations for dairy processing which are focused on greater efficiencies for Bright Dairy in milk processing, clean-in-place cleaning, heat recovery and water recirculation," Canterna added.

The design and installation of the dairy processing equipment is scheduled to be completed in 2012, with the plant becoming operational in the first half of 2013.  

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 over 18,000 employees. The company's highly-specialized, engineered products and technologies are concentrated in three areas: Flow Technology, infrastructure, and vehicle service solutions.  Many of SPX's innovative solutions are playing a role in helping to meet rising global demand for electricity, processed foods and beverages and vehicle services, particularly in emerging markets. The company's products include food processing systems for the food and beverage industry, power transformers for utility companies, cooling systems for power plants; and diagnostic tools and equipment for the automotive industry. This description of SPX does not contemplate the pending sale of the Service Solutions business. For more information, please visit www.spx.com.

Certain statements in this press release including any statements relating to performance under or results of the plant to be built pursuant to the referenced contract, 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 word "expect," "believe" and similar expressions may 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. Statements in the press release speak only as of the date of this press release, and SPX disclaims any responsibility to update or revise such statements.

SOURCE SPX Corporation

BAAR, Switzerland, Feb. 9, 2012 /PRNewswire/ -- Manas Petroleum Corp. ("Manas") (TSX-V: MNP; OTCBB: MNAP) today announced that on February 9, 2012 Petromanas Energy Inc. has secured Shell as JV partner for selected Albanian assets.

Manas, through its subsidiary DWM Petroleum AG owns 31.7% of the issued and outstanding shares of Petromanas.

Petromanas Energy Inc. ("Petromanas" or the "Company") today announced it has entered into a definitive farm out agreement (the "Agreement") with a wholly owned subsidiary of Royal Dutch Shell plc ("Shell"), whereby Shell will farm into the Company's rights on onshore exploration Blocks 2-3 (the "Blocks") comprising approximately 852,000 acres onshore Albania. Under the terms of the Agreement, Shell will acquire a 50% participating interest in the Blocks in exchange for payments and carried costs up to US$50.3 million. Petromanas will continue to act as operator of the Blocks.

"We are very pleased to have Shell as a joint venture partner. They bring exceptional technical capabilities and substantial resources to our new relationship," said Mr. Glenn McNamara, CEO of Petromanas. "We believe that partnering with a global leader like Shell provides a validation of the potential of our Albanian assets and the exploration work we have completed to date. Our 2012 drilling program remains unchanged and is moving ahead as planned from a position of enhanced strength and we expect the addition of a further seismic program to accelerate the exploration and development of the Blocks."

Under the terms of the Agreement, Shell would carry Petromanas on the following items: a work program up to US$22.5 million in the first exploration period and subject to entering into the second exploration period, a second exploration well. Any potential excess costs of the work program over the carried amounts shall be jointly paid by both parties in proportion to their participating interest. In addition, Shell will pay a cash consideration for a total amount of US$16.3 million, of which US$11 million is refundable to Shell should Petromanas secure a partner for the other Petromanas blocks during the current exploration period.

The Agreement is subject to customary closing conditions including the receipt of all necessary regulatory and government approvals.

About Manas Petroleum Corp.

Manas Petroleum is an international oil and gas company with primary focus on exploration and development in South-Eastern Europe, Central Asia and Mongolia.  In Albania, Manas participates in a 1.7 million acre exploration project through its equity interest in Petromanas Energy Inc., a Canadian public company. In Kyrgyz Republic, Manas has signed a US$54 million farm-out agreement with Santos International, a subsidiary of one of Australia's largest oil and gas companies. In addition to the development of its Kyrgyz Republic project, Manas participates in an oil and gas exploration project in neighboring Tajikistan through its majority-owned subsidiary Somon Oil Company, subject to an option farm out agreement with Santos. In Mongolia, Manas owns record title to the two Production Sharing Contracts covering Blocks XIII and XIV through its wholly-owned subsidiary Gobi Energy Partners GmbH, but 26% of the beneficial ownership interest in these blocks is held in trust for others.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information please contact:

Roger JennyCorporate SecretaryManas Petroleum Corp.Bahnofstr. 9, P.O. Box 155CH-6341 Baar, SwitzerlandPhone: +41 44 718 1030 Fax:       +41 44 718 1039Email:    info@manaspete.comWeb:     www.manaspete.com

Scott KoyichNorth America Investor RelationsBrisco Capital Partners Corp.Phone: +1 403 262 9888Email:    scott@briscocapital.com

Dr. Georg HochwimmerEurope Investor RelationsGeneral Research GmbHPhone: +49 89 2500 4330Email:    hochwimmer@generalresearch.de

DISCLAIMER

Forward-Looking Statement Disclaimer

This press release contains forward-looking statements.  Forward-looking statements are projections of events, revenues, income, future economic performance or management's plans and objectives for future operations. In some cases you can identify forward-looking statements by the use of terminology such as "may", "should", "anticipates", "believes", "expects", "intends", "forecasts", "plans", "future", "strategy", or words of similar meaning. These statements are only predictions and are subject to known and unknown risks, including the risks described in Manas' periodic disclosure documents filed on SEDAR and EDGAR, copies of which are also available on the company's website at www.manaspetroleum.com. Any of these risks could cause Manas' or its industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Except as required by applicable law, including the securities laws of the United States and Canada, Manas does not intend to update any of the forward-looking statements to conform these statements to actual results.

SOURCE Manas Petroleum Corp.