Paharpur Cooling Towers to acquire SPX asset

Paharpur Cooling Towers Ltd has entered into a definitive agreement with US-based SPX Cooling Technologies to acquire its dry cooling business globally for about $48 million, a company statement said.

The transaction also includes SPX's ownership interest in its joint venture with Shanghai Electric and excludes its SPX’s South African subsidiary DBT Technol-ogies (Pty) Ltd.

SPX dry cooling is a leading supplier of highly engineered large dry cooling systems globally, primarily used for power plants. Based in Brussels, SPX Dry Cooling has the largest installed base across the world.