Graham Corporation (NYSE MKT: GHM), a global business that engineers, 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, today announced that it has been awarded $3.0 million in orders for U.S. installations.
The equipment is to be used in refining and in power generation, two of the key industries served by Graham. The ejector system components order is to upgrade equipment at a U.S. oil refinery that Graham originally supplied equipment to in 1989. Graham will also design and build two steam surface condensers for two 18-megawatt biomass energy facilities currently under construction in the southeastern United States. Both orders have planned delivery schedules for the first quarter of fiscal 2014, which begins April 1, 2013.
James R. Lines, Graham’s President and Chief Executive Officer, commented, “Despite the overall concern surrounding the U.S. and global economy, bidding activity for us is high in the refining, petrochemical and power markets. We are actively pursuing several alternative energy projects, such as this biomass to energy project we have won. In addition, we have seen a recent increase in bid work for North American oil refineries which is encouraging considering how much this market had slowed during the past recession.”
“We have invested in people and technology and believe that we are in a solid position to capture opportunities as our markets recover. We remain focused on being a leader in engineered-to-order critical equipment for the industries we serve,” concluded Mr. Lines.