Graham Awarded USD5 mn in New Orders for China
OREANDA-NEWS. June 14, 2012. Graham Corporation has been awarded USD 5 million in new orders, both intended for China and spanning two key markets within the company's targeted energy industry: oil refining and nuclear energy.
The first win in the nuclear energy market is for ejector systems to be built in Graham's Batavia facility, the company said last week. The ejector systems will be installed at four Chinese nuclear energy facilities currently under construction.
The second order is for an ejector system with liquid ring vacuum pumps that will be installed in an existing Chinese oil refinery to nearly double its capacity as demand for transportation fuels in China continues to grow, Graham said.
The refinery order is Graham's third within the past two months for oil refining capacity investments in China, marking a continued high level of confidence in the company's brand, said James R. Lines, president and CEO.
"Of significance is our entrance into the nuclear energy industry in China, which is expected to expand significantly over the next 10 years," Lines said. "I believe that these orders are a testament to our strategy in China to establish our capabilities, build awareness and develop customer relationships."
Lines said Graham has earned a large share of incremental capacity added during the past six years in the Chinese oil refining market, and the company is now expanding into the petrochemical and nuclear industries.
"Both domestically and internationally in all of our markets, we continue to experience elevated bidding activity as the pipeline of opportunities expands," Lines said. "We finished fiscal 2012 with USD 42.3 million of orders in our fourth quarter, and it is encouraging to have this momentum carry into the first quarter of 2013."
Both orders announced last week are scheduled for delivery by next spring.
Batavia-based Graham is 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 energy facilities.