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, announced that it has been awarded five orders totaling $7.5 million. The orders are expected to ship over the next nine to 15 months.
James R. Lines, Graham’s President and Chief Executive Officer, commented, “Our bid work in oil refining, petrochemical and renewable energy markets remains very active. We believe this recent release of orders is an indicator of an improving environment in our key markets. Despite a continued air of caution among customers, we expect a more predictable pattern of order activity in coming quarters.”
The diverse group of orders includes Graham’s traditional oil refining market, as well as its growing presence in renewable energy applications. In the U.S., Graham will be providing an ejector system for the revamp of an oil refinery to improve conversion of crude oil to transportation fuels. In addition, Graham is designing and manufacturing ejector and liquid ring pump systems for a U.S. refinery that recycles used oil in a re-refining process to produce lubricating oils.A steam surface condenser will be supplied by Graham for a previously idled oil sands refinery upgrader project in Alberta, Canada that has been reinitiated. An oil refinery project in Southeast Asia will also receive a Graham steam surface condenser. In Latin America, two steam surface condensers will be provided to two biomass-to-energy projects for sugar mills.