Graham Corporation (NYSE MKT:
The orders awarded to Graham span two key markets within the Companyís targeted energy industry: oil refining and nuclear energy. Grahamís first win in the nuclear energy market in China is for ejector systems to be built in Grahamís Batavia operation. The ejector systems will be installed at four Chinese nuclear energy facilities currently under construction. The second order is for an ejector system with liquid ring vacuum pumps that will be installed in an existing Chinese oil refinery to nearly double its capacity as demand for transportation fuels in China continues to grow. Both orders have planned delivery schedules within the current fiscal year, which ends March 31, 2013.
James R. Lines, Grahamís President and Chief Executive Officer, commented, "We have successfully secured our third order within the past two months for oil refining capacity investments in China, marking what we believe is a continued high level of confidence in our brand. Of significance is our entrance into the nuclear energy industry in
ďBoth domestically and internationally in all of our markets, we continue to experience elevated bidding activity as the pipeline of opportunities expands. We finished fiscal 2012 with $42.3 million of orders in our fourth quarter, and it is encouraging to have this momentum carry into the first quarter of 2013.Ē