Graham Corp. has received three orders, totalling approximately US$5.5 million, for work in the refining industry. Two of the orders are for replacement components within the company’s installed base, while the other one involves replacing a Graham steam surface condenser that was installed in a North American refinery more than 45 years ago.
Equipment will be updated with more corrosion resistant material. The other replacement order is for a condenser in an ejector system that Graham provided to a Southeast Asian refiner in 1980.
The third order involves a new ejector system for a Chinese refinery revamp project where new process units will be added to expand production of transportation fuel. Equipment delivery for all three orders is planned for the second half of fiscal 2019.
James R. Lines, Graham’s President and CEO, commented, “Graham is known for its quality and equipment reliability, as is evident with the replacement order for equipment that operated for more than 45 years. We place long-standing customer relationships in high regard and we seek to benefit from our expansive installed base.”
He continued, “We have begun to see order activity from crude oil refining markets. That is encouraging, following a couple of years of inactivity from that industry. Further, equipment we provide to crude oil refining markets generally offers higher margin potential when compared with our other markets. This is due to more demanding quality requirements, specialized equipment design and customers for these applications generally valuing total cost of ownership over initial capital cost.”
“Due to the level of anticipated orders, we expect backlog will expand once again this quarter,” he concluded.
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