Graham Corporation Secures $8 Million in Orders for Petrochemical Projects

• A total of five steam surface condensers will be supplied for use in a Chinese coal-to-liquids (CTL) project and a Middle Eastern ethylene facility

BATAVIA, N.Y.--(BUSINESS WIRE)-- Graham Corporation (NYSE Amex: GHM), a 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, today announced that it has secured $8 million in orders that are expected to be delivered in the fourth quarter of Graham’s fiscal year 2013, which ends March 31, 2013.

The steam surface condensers for the China-based project will be used in a plant that produces petroleum products from coal. As the world’s largest producer and consumer of coal, China has embraced CTL technology. The petrochemical project in the Middle East is for an ethylene facility. Petrochemical projects have been advancing with the gradual improvement in the global economy. All five steam surface condensers will be built in Graham’s Batavia facility.

James R. Lines, Graham’s President and Chief Executive Officer, commented, “Our bidding activity has been very active for oil refining, oil sands upgrading, petrochemicals, and power generation, as well as renewable and nuclear energy projects. As we see our pipeline of opportunities expand, it is very encouraging to have these projects, which have been in our pipeline for over a year, finally come to fruition.

“For both project wins, Graham’s products, quality and track record of success were strongly preferred by the end user. We believe that our strong brand continues to enable us to win orders and maintain our leading market share.”

ABOUT GRAHAM CORPORATION

With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a global designer, manufacturer and supplier of custom-engineered ejectors, pumps, condensers, vacuum systems and heat exchangers. For more than 75 years, Graham has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principal markets for Graham’s equipment are energy, including oil and gas refining and nuclear and other power generation, chemical/petrochemical and other process industries. In addition, Graham's equipment can be found in diverse applications, such as metal refining, pulp and paper processing, shipbuilding, water heating, refrigeration, desalination, food processing, pharmaceutical, heating, ventilating and air conditioning, and in nuclear power installations, both inside the reactor vessel and outside the containment vessel.

Graham Corporation’s subsidiary Energy Steel & Supply Co. is a leading code fabrication and specialty machining company dedicated exclusively to the nuclear power industry.

Graham Corporation’s reach spans the globe. Its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East. Graham routinely posts news and other important information on its website, www.graham-mfg.com, where additional comprehensive information on Graham Corporation and its subsidiaries can be found.

Safe Harbor Regarding Forward Looking Statements

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.

Forward-looking statements are subject to risks, uncertainties and assumptions and are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “optimism,” “could,” and other similar words. All statements addressing operating performance, events, or developments that Graham Corporation expects or anticipates will occur in the future, including but not limited to, statements relating to Graham’s acquisition of Energy Steel & Supply Co. (including but not limited to, the integration of the acquisition of Energy Steel, revenue, backlog and expected performance of Energy Steel, and expected expansion and growth opportunities within the domestic and international nuclear power generation market), anticipated revenue, the timing of conversion of backlog to sales, market presence, profit margins, foreign sales operations, its ability to improve cost competitiveness, customer preferences, changes in market conditions in the industries in which it operates, changes in general economic conditions and customer behavior, forecasts regarding the timing and scope of the economic recovery in its markets, and its acquisition strategy are forward-looking statements. Because they are forward-looking, they should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties are more fully described in Graham Corporation's most recent Annual and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.”

Should one or more of these risks or uncertainties materialize, or should any of Graham Corporation's underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on Graham Corporation's forward-looking statements. Except as required by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-looking statements contained in this press release.

Graham Corporation
Jeffrey Glajch, 585-343-2216
Vice President Finance and CFO
jglajch@graham-mfg.com
or
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com

Source: Graham Corporation

Released March 8, 2012