Graham Corporation (NYSE Amex:
One of the orders is for the expansion of a petrochemical facility to increase production of ethylene, with delivery planned for the quarter ending June 30, 2012. The second order will increase the production of transportation fuels at an oil refinery, with delivery expected to occur in the quarter ending September 30, 2012. Graham’s current fiscal year ends March 31, 2012.
James R. Lines, Graham’s President and Chief Executive Officer, commented, “We continue to see investments in India in new and expanded capacity to produce fertilizers, petrochemicals, and fuels, driven by population growth and increased industrialization. We believe that we are ideally positioned to capitalize on increased demand in
“Other developing economies in Asia are also investing in new and expanded production capabilities, and we continue to be involved in the early bidding activity for projects in both the Middle East and