Graham Corporation Awarded $5 Million in Orders
• U.S. Oil Refinery Order for New Ejector System
• Middle East Liquefied Natural Gas Facility Order to Replace Surface Condensers
BATAVIA, N.Y. –Â Graham Corporation (NYSE:GHM), a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical and power industries, including the supply of components and raw materials to nuclear energy facilities, announced today that it has been awarded two new orders totaling approximately $5 million. One order is for a new Graham ejector system at a U.S. oil refinery. The second order is to replace existing Graham surface condensers at a Middle East liquefied natural gas (LNG) facility. Both orders are expected to ship within nine to twelve months.
The domestic oil refiner is expanding its processing capabilities to increase the production of ultra-low-sulfur diesel, which requires a new ejector system. The Middle East liquefied natural gas facility order will upgrade existing Graham surface condensers following 40+ years of service.
James R. Lines, Graham's President and Chief Executive Officer, commented, "The past few quarters have been marked with stronger bidding activity in our global refining market, including the Middle East, Asia, South America and North America. This is especially encouraging in North America, given the strength of our brand in the domestic market."
Mr. Lines added, "I believe that the surface condenser order is a clear demonstration of the value of our large installed base. We will replace surface condensers that were sold to the same customer over 40 years ago for an LNG facility. Unfortunately, our equipment is not required typically in today's LNG facilities due to plant sizes and processing configurations. Nevertheless, we continue to seek out opportunities around the world where customers value our engineering expertise and ability to provide high quality, reliable, engineered-to-order solutions."
ABOUT GRAHAM CORPORATION
With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers. For nearly 80 years, Graham has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principal markets for Graham's equipment are energy, including oil and gas refining and nuclear and other power generation, chemical/petrochemical and other process industries. In addition, Graham's equipment can be found in diverse applications, such as metal refining, pulp and paper processing, shipbuilding, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning, and in nuclear power installations, both inside the reactor vessel and outside the containment vessel.
Graham Corporation's subsidiary Energy Steel Supply Co. is a leading code fabrication and specialty machining company dedicated exclusively to the nuclear power industry.
Graham Corporation's reach spans the globe. Its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East. Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.
CONTACT:
Deborah K. Pawlowski / Karen L. Howard
Kei Advisors LLC
Phone: (716) 843-3908 / (716) 843-3942
Email: dpawlowski@keiadvisors.com  / khoward@keiadvisors.com Â
