Graham Corporation (NYSE Amex: GHM), a designer and manufacturer of critical equipment for the oil refining, petrochemical and power industries, including the supply of components and raw materials to nuclear power plants, today announced that it has been awarded three orders totaling approximately $4.6 million for condensers, ejectors and liquid ring vacuum pumps to be installed in facilities in Southeast Asia, the Middle East and India.
Each order is from a different customer and represents a different industry and country. The first order is for liquid ring vacuum pumps that will be installed in a petrochemical producing facility under construction in the
James R. Lines, Graham’s President and Chief Executive Officer, commented, “We are encouraged by the strength of our pipeline as well as with this most recent level of purchase activity. We believe the diversity of the end-use markets, including oil refining, petrochemical, geothermal power and alternative energy and nuclear power, in which we are engaged, is also an excellent testament to the strength of our strategy to increase our addressable market opportunities throughout the energy and process industries.”
“We remain somewhat cautious, however, in this environment of global sociopolitical uncertainty, and although it appears that purchase activity has picked up recently, we expect that quarterly order levels will continue to be erratic,” Mr. Lines concluded.