Graham Corp receives contracts, approximately $3.5mn
25 Aug '05
3 min read
Batavia based a global of ejectors designer, manufacturer, and supplier Graham Corporation announced that it has received contracts, valued at approximately $3.5 million in total, to install its equipment in two petrochemical processing facilities. Revenue from the two projects will be recognized on a percentage-of-completion basis, and shipment is presently scheduled for the first half of fiscal year 2007, which begins April 1, 2006.
Bill Johnson, President and CEO of Graham, commented, "The bid processes for these contracts were complex and detailed, from both technical and commercial standpoints. Graham is well-known for its engineering expertise, solutions-oriented approach and reliable products, all of which gave us the advantage in winning these contracts. By working closely with our customers, they were not only able to design custom solutions to meet their needs but also provide them with the confidence that their quality products and systems will perform as expected. They continue to capitalize on our engineering strengths and product quality in a strong demand environment to pursue other opportunities on a world-wide basis."
U.S. Ethylene Production Facility Graham was awarded a steam condensers contract, valued at approximately $2 million, by a major U.S. chemical producer for its U.S. based ethylene production facility. The new condensers will replace the current, failing steam condensers previously supplied by another manufacturer. The customer anticipates that the more reliable Graham units will reduce maintenance time and expense. Shipment is presently scheduled for the quarter ending September 2006.
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