The invention provides an apparatus and a method for applying a water-based emulsion of silicone fluid to a printed web required to be cooled, such that evaporative cooling of the web is promoted in addition to coating of said web with a silicone material. Water evaporated following the application of the silicone fluid to the web is recovered by condensation on the applicator (s) and reapplied to the web, thus economizing the amount of silicone fluid mixture necessary to provide both cooling and enhanced slip characteristics necessary for further handling and processing of the web. The condensation step is effected by containing the evaporated water from the web within a compact enclosure enveloping both the applicator (s) and the web, and optionally chilling said applicator (s) with a cooling medium, preferably water, by means of said cooling medium flowing through at least one of the applicators. In certain embodiments, in addition to condensing the evaporated water, the airborne silicone mist created in the coating step is captured and is returned to the fluid applicator.