Graham Corporation Receives Orders for the Renewable Energy and Oil Refining Markets

 

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 five orders totaling approximately $6.5 million.

 

Three of the five orders are for the renewable energy market. The first renewable energy sector order is for ejectors, condensers and liquid ring vacuum pumps for installation in a geothermal plant in Southeast Asia, with delivery planned for the third fiscal quarter of the fiscal year ending March 31, 2012, referred to as Fiscal 2012. The other two renewable energy sector orders are for installation in biomass-to-energy facilities under construction in North America, with delivery planned for the fourth fiscal quarter of Fiscal 2012.  

 

The remaining two orders are for the oil refining market. These orders involve the supply of ejector systems to a U.S. and an Asian refiner.  Each refining project is for the expansion of an existing oil refinery, with both deliveries planned for the third fiscal quarter of Fiscal 2012.

 

James R. Lines, Graham’s President and Chief Executive Officer, commented, “These five orders are a continuation of the spurt of activity from our traditional markets.  We continue to secure orders in the expanding renewable energy market, which appears to be fairly active at this time. We believe that we have done well this quarter by capitalizing on opportunities where purchase decisions are being made. We believe that our sales approach, and the commitment by the entire company to win these orders within the schedule commitments of our customers, is testament to our flexibility, capability, focus on execution and customer-oriented service approach.”

 

“While we expect to continue to see strong order activity, we remain somewhat cautious and recognize that order flow will continue to be erratic given the current global economic and political uncertainty,” Mr. Lines concluded.