Graham Names Jeffrey Glajch Chief Financial Officer

 

BATAVIA, NY, March 2, 2009 – Graham Corporation (NYSE-A: GHM), a designer and manufacturer of critical equipment for the oil refinery, petrochemical and power industries, announced the appointment of Jeffrey Glajch as its Vice President, Finance and Administration and Chief Financial Officer, effective today. Mr. Glajch joins Graham from Nukote International and brings nearly 24 years of financial leadership and strategic operations experience to the Company.

 

“Jeff is a dynamic leader and a strong addition to our management team,” said James R. Lines, President and Chief Executive Officer of Graham. "I believe that his expertise in all aspects of finance, including acquisition integration, international operations, strategic planning and information technology management, will be instrumental in our strategic efforts to grow the Company.”

 

Mr. Glajch most recently served as the Chief Financial Officer of Nukote International, where he led the finance and information technology teams and was responsible for improved profit margins, a stronger capital structure, business rationalization, and acquisition integration. Previous to his tenure at Nukote, Mr. Glajch was the Chief Financial Officer of Fisher Scientific Canada, a position he held after serving in positions of increasing responsibility in the finance departments at Air Products and Chemicals, Great Lakes Chemical Corporation and Walt Disney World Company. He began his career in the engineering department of Westvaco Corporation.

 

Mr. Glajch’s responsibilities at Graham will include all aspects of financial reporting and analysis, accounting and control systems, information technology and human resources. Mr. Glajch holds a

Bachelor of Science degree in chemistry from Carnegie-Mellon University, a Masters of Science in chemical engineering from Clarkson University and an M.B.A. from Purdue University. He succeeds J. Ronald Hansen, who retired from Graham in 2008.

 

ABOUT GRAHAM CORPORATION

With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of ejectors, pumps, condensers, vacuum systems and heat exchangers. Over the past 73 years, Graham has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principal markets for Graham’s equipment are the petrochemical, oil refining and electric power generation industries, including cogeneration and geothermal plants. Graham's equipment can be found in diverse applications, such as metal refining, pulp and paper processing, ship-building, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning.

 

Graham Corporation’s reach spans the globe. Its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East. Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on the Company can be found.

 

Safe Harbor Regarding Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, statements relating to anticipated revenues, profit margins, foreign sales operations, its strategy to build its global sales representative channel, the effectiveness of automation in expanding its engineering capacity, its ability to improve cost competitiveness, customer preferences, changes in market conditions in the industries in which Graham Corporation operates, changes in general economic conditions and customer behavior and Graham Corporation’s acquisition strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of Graham Corporation's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation's forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

 

For more information contact:

Deborah K. Pawlowski, Kei Advisors LLC

Phone: (716) 843-3908

Email: dpawlowski@keiadvisors.com