Graham Corporation Wins $8 Million of Orders for Global Oil Refining Projects

BATAVIA, N.Y. (June 10, 2014) – Graham Corporation announced that it has been awarded three refinery orders for projects valued at approximately $8 million in total. One of the orders relates to the upgrade of a refinery in China and the other two orders are for replacement components at North American refineries. Shipments are expected to occur within the next nine to 12 months.

The China refinery upgrade order calls for a new Graham ejector system engineered to improve conversion of crude oil to transportation fuels.

The other two orders, one of which is for the Canadian Oil Sands and the other for the U.S., are for ejector system components that must be replaced due to corrosion resulting from their harsh operating environments.

"Winning these refinery orders in China, the Canadian Oil Sands and the U.S. demonstrates the geographic breadth of our presence in global refining markets,” said James R. Lines, Graham's president and CEO. “These markets present various opportunities to us, including new capacity, revamps to existing refineries to allow for the processing of new feedstocks or differing end products, and new process units designed to reduce pollution from transportation fuels.”

Added Lines: "Our bidding pipeline continues to be very full and active. This, and our recent order activity, supports our confidence in our guidance for fiscal 2015. Our long-term growth objective is to double our revenue to exceed $200 million in the current cycle."

Graham Corporation designs, manufactures and supplies custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers.

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