News Archive

Graham Corporation Awarded $4.6 Million in International Orders

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 three orders totaling approximately $4.6 million for condensers, ejectors and liquid ring vacuum pumps to be installed in facilities in Southeast Asia, the Middle East and India.  

Each order is from a different customer and represents a different industry and country.  The first order is for liquid ring vacuum pumps that will be installed in a petrochemical producing facility under construction in the Middle East.  The second order is for a geothermal power generating facility and involves the supply of ejectors, condensers and liquid ring vacuum pumps in Southeast Asia, the second largest area of geothermal power production in the world.  The final order is for a steam surface condenser that will be installed in an ethylene producing plant in India.  Shipments of the three orders are planned for the second, third and fourth quarters, respectively, of fiscal year 2012, which ends March 31, 2012.  

James R. Lines, Graham’s President and Chief Executive Officer, commented, “We are encouraged by the strength of our pipeline as well as with this most recent level of purchase activity.  We believe the diversity of the end-use markets, including oil refining, petrochemical, geothermal power and alternative energy and nuclear power, in which we are engaged, is also an excellent testament to the strength of our strategy to increase our addressable market opportunities throughout the energy and process industries.”

“We remain somewhat cautious, however, in this environment of global sociopolitical uncertainty, and although it appears that purchase activity has picked up recently, we expect that quarterly order levels will continue to be erratic,” Mr. Lines concluded.


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