BATAVIA, NY, March 31, 2009 – Graham Corporation (NYSE-Amex: GHM) announced today that it has been awarded three orders valued at approximately $3.5 million for surface condensers to be installed in two oil refineries in India and South Korea and a fertilizer production facility in the U.S.
The refinery orders, comprised of an order for an installation at a new refinery to be built in
James R. Lines, Graham’s President and Chief Executive Officer, commented, “These three condenser orders, combined with the $5 million in orders for ejector systems we announced last month, are indicative of the increased order activity we have seen in our current fiscal fourth quarter compared with last quarter. While we expect the global recession and tight credit markets to continue to affect the pace and timing of new order placement, we intend to continue to aggressively pursue available business. We view the potential bookings pipeline favorably. Although the short-term market remains less visible and lumpy, we believe the long-term fundamentals supporting increased global demand for energy are solid.”