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Graham Corporation (NYSE Amex: GHM), a global 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 three new orders with a combined value of $4.3 million. All three orders are expected to ship in the fiscal year ending March 31, 2013 (“fiscal 2013”).
An order for an ethylene production facility in Asia, which is expanding production capacity, requires two of Graham’s custom-engineered surface condensers. These condensers are currently planned for shipment in the third quarter of fiscal 2013, which ends December 2012.
The additional two orders are for U.S. installations. A Graham vacuum ejector system will be installed in an oil refinery that is being revamped to expand its capacity and provide the capability of processing Bakken crude oil from North Dakota shale formations. It is expected to be shipped in the first quarter of fiscal 2013, which ends June 2012. Finally, Graham will supply a steam surface condenser in the second quarter of fiscal 2013, which ends September 2012, for a 40 MW biomass power plant. This is the seventh biomass power project order Graham has secured over the last year.
James R. Lines, Graham’s President and Chief Executive Officer, commented, “Our global pipeline of opportunities continues to improve in quality, with order development and margins improving over the last nine months compared with the year-ago period. We believe that these wins are among the signals which indicate to us that our markets, as a whole, are improving. Petrochemical markets are expanding in Asia and, in the U.S., there is renewed activity in the refining markets along with continued advancement of alternative energy projects. Moreover, we have identified significant opportunities at existing nuclear power facilities, as well as new build nuclear power facilities that are currently under construction.”
Robert A. Platt, PE, Appointed Vice President of Sales
Graham announced that Robert A. Platt, PE, was appointed Vice President of Sales, effective October 27, 2011. Mr. Platt brings to Graham significant industry experience in sales and general management. Prior to joining Graham, Mr. Platt was most recently President of API Basco, a heat transfer company. Previously, he has held leadership positions at Maag Systems, Carver Pump Company, Ingersoll Dresser Pumps and Bornemann Pumps. A registered professional engineer, he earned his undergraduate and master’s degrees in mechanical engineering from the Stevens Institute of Technology.
Mr. Lines noted, “We are pleased to add Bob and his extensive experience to our team as we continue to expand our addressable opportunities in the markets we serve while we also increase our market penetration in various geographic regions and industries to broaden our diversification. We believe that well beyond the current market improvement, Graham can expand its presence and reach further into the energy markets we serve. We are building our team to achieve that goal.”