Graham Corporation (NYSE: GHM), a worldwide business that designs, manufactures and sells vital tools for the oil refining, petrochemical, power and defense industries, announced at the moment that it acquired two orders totaling approximately $17 million, each for ejector systems within the North American refining business. Tools supply for both orders is scheduled for the second quarter of fiscal 2019.
Equipment that the corporate engineers and manufactures for the refining market often contains massive ejector systems that operate in extremely corrosive environments. Each of these orders involve the replacement of at present put in Graham gear, which is required because of corrosion brought on by harsh operating environments. In one instance, the components shall be replaced with the identical metallurgy. In the opposite instance, the end person selected replacement gear with a special metallurgy that gives increased corrosion resistance to increase operating life.
James R. Strains, Graham’s President and Chief Govt Officer, commented, “We are benefiting from our large installed base, where we now have been working closely with our customers in the sector. 30,000 cubic cans These two orders, together with the previously introduced orders this quarter, are for present quite than new installations. Refiners are targeted on enhancing operational performance and reliability of their present course of units. We anticipate that our large installed base will continue to profit us because the refining industry seeks to maximise capabilities of its existing asset base. /p>
He continued, “While we are happy with these orders and have seen an uptick in exercise from the refining market throughout this quarter, we do not believe that these recent successes reflect a sustained shift in capital spending within the refining industry. /p>
ABOUT GRAHAM Corporation
Graham is a worldwide business that designs, manufactures and sells essential gear for the power, protection and chemical/petrochemical industries. Vitality markets embrace oil refining, cogeneration, nuclear and alternative energy. For the defense business, the Company’s equipment is used in nuclear propulsion energy systems for the U.S. Navy. Graham’s global brand is constructed upon world-renowned engineering experience in vacuum and heat switch expertise, responsive and versatile service and unsurpassed high quality. Graham designs and manufactures customized-engineered ejectors, vacuum pumping systems, surface condensers and vacuum methods. Graham is also a number one nuclear code accredited fabrication and specialty machining company. Graham supplies components used inside reactor vessels and out of doors containment vessels of nuclear power facilities. Graham’s tools will also be found in different diverse functions such as metal refining, pulp and paper processing, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning. Graham’s attain spans the globe and its equipment is installed in services from North and South America to Europe, Asia, Africa and the Center East. Graham routinely posts news and other essential info on its webpage, www.graham-mfg.com, the place further comprehensive information on Graham Corporation and its subsidiaries will be found.
Protected Harbor Regarding Ahead Looking Statements
This information release accommodates ahead-looking statements throughout the meaning of Section 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Exchange Act of 1934, as amended.
Ahead-trying statements are topic to dangers, uncertainties and assumptions and are identified by phrases corresponding to “expects, “estimates, “confidence, “projects, “typically, “outlook, “anticipates, “believes, “appears, “could, “opportunities, “seeking, “plans, “aim, “pursuit, and different similar words. All statements addressing operating efficiency, occasions, or developments that Graham Corporation expects or anticipates will occur sooner or later, including however not restricted to, expected expansion and development opportunities inside its domestic and international markets, anticipated income, the timing of conversion of backlog to gross sales, market presence, profit margins, tax charges, foreign gross sales operations, its potential to enhance cost competitiveness, customer preferences, modifications in market circumstances in the industries through which it operates, adjustments in commodities costs, the effect on its business of volatility in commodities costs, changes basically economic situations and buyer behavior, forecasts relating to the timing and scope of the financial restoration in its markets, its acquisition and development technique and the anticipated efficiency of Power Steel & Supply Co. and its operations in China and different worldwide areas, are forward-trying statements. Because they’re forward-looking, they needs to be evaluated in light of vital danger components and uncertainties. These threat elements and uncertainties are extra absolutely described in Graham Corporation’s most latest Annual Report filed with the Securities and Exchange Commission, included beneath the heading entitled “Risk Elements. /p>
Ought to one or more of those dangers or uncertainties materialize, or ought to any of Graham Corporation’s underlying assumptions prove incorrect, precise results could fluctuate materially from these currently anticipated. In addition, undue reliance shouldn’t be placed on Graham Corporation’s ahead-wanting statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-trying statements contained in this information release.
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