Graham Corporation Secures $8 Million in Orders for Petrochemical Projects
3/8/2012 6:55:00 AM
BATAVIA, N.Y.--()--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 energy facilities, today announced that it has secured $8 million in orders that are expected to be delivered in the fourth quarter of Graham's fiscal year 2013, which ends March 31, 2013.
The steam surface condensers for the China-based project will be used in a plant that produces petroleum products from coal. As the world's largest producer and consumer of coal, China has embraced CTL technology. The petrochemical project in the Middle East is for an ethylene facility. Petrochemical projects have been advancing with the gradual improvement in the global economy. All five steam surface condensers will be built in Graham's Batavia facility.
James R. Lines, Graham's President and Chief Executive Officer, commented, "Our bidding activity has been very active for oil refining, oil sands upgrading, petrochemicals, and power generation, as well as renewable and nuclear energy projects. As we see our pipeline of opportunities expand, it is very encouraging to have these projects, which have been in our pipeline for over a year, finally come to fruition.
"For both project wins, Graham's products, quality and track record of success were strongly preferred by the end user. We believe that our strong brand continues to enable us to win orders and maintain our leading market share."
ABOUT GRAHAM CORPORATION
With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers. For more than 75 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 energy, including oil and gas refining and nuclear and other power generation, chemical/petrochemical and other process industries. In addition, Graham's equipment can be found in diverse applications, such as metal refining, pulp and paper processing, shipbuilding, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning, and in nuclear power installations, both inside the reactor vessel and outside the containment vessel.
Graham Corporation's subsidiary Energy Steel & Supply Co. is a leading code fabrication and specialty machining company dedicated exclusively to the nuclear power industry.
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 Graham Corporation and its subsidiaries can be found.