Graham Corporation Wins $3.2 million in Purchase Orders for Saudi Arabian Petrochemical Complex.BATAVIA, N.Y. -- Graham Corporation (AMEX AMEX See: American Stock Exchange : GHM GHM Groupes Homogènes de Malades GHM Gay Hispanic Male GHM God Help Me GHM General Hydrological Model GHM Gerdt H. Mathiesen AS GHM Guest-Host Mode GHM General Health Maintenance ) announced today that it received two purchase orders totaling approximately $3.2 million for equipment to be installed in a new world-scale petrochemical production complex in Yanbu Industrial City, Saudi Arabia. Revenue from the four steam surface condensers and four ejector ejector (ijekt  r),n by common usage, a device used to remove debris and fluids by negative pressure. Another term is aspirator. See also aspirator. systems will be recognized on a percentage-of-completion basis, with shipment presently scheduled for the second fiscal quarter of 2007, which ends September 30, 2006. The equipment will be installed in the Yansab Red Sea complex, which will be one of the world's largest petrochemical complexes and will provide over 4 million tons of ethylene products per year. The first purchase order is with a turbomachinery supplier for three steam condensers that will be installed in an ethylene production facility in the Yansab complex. The second contract is with an engineering, procurement and construction  The introduction to this article is vague. To comply with Wikipedia's guidelines, it should be improved. contractor headquartered in Japan, and is for one steam surface condenser and four ejector systems that will be installed in an ethylene oxide/ethylene glycol glycol (glī`kōl), dihydric alcohol in which the two hydroxyl groups are bonded to different carbon atoms; the general formula for a glycol is (CH2)n(OH)2. plant at the same site. The equipment purchased will be used in a downstream plant that further processes the ethylene building blocks produced in the Yansab ethylene production facility for use in the manufacture of products such as antifreeze antifreeze, substance added to a solvent to lower its freezing point. The solution formed is called an antifreeze mixture. Antifreeze is typically added to water in the cooling system of an internal-combustion engine so that it may be cooled below the freezing point , fibers, carpeting and a variety of consumer products. William C. Johnson, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , commented, "The current high level of capital spending for new production facilities in the Middle East is unprecedented. The number and size of projects continue to increase in order to meet the worldwide demand for products derived from ethylene and its by-products. We believe that our reputation for custom designed solutions and commitment to delivering quality products on time has enabled us to capture these large contracts." Since August of this year, Graham has announced contract wins for equipment in petrochemical plants located in Kuwait, the Sultanate of Oman and the United States. ABOUT GRAHAM CORPORATION With world-renowned engineering expertise in vacuum and heat transfer technology, Graham Corporation is a designer, manufacturer and global supplier of ejectors, pumps, condensers, vacuum systems and heat exchangers. Over the past 70 years, Graham Corporation has built a reputation for top quality, reliable products and high-standards of customer service. Sold either as components or complete system solutions, the principle markets for Graham's equipment are the petrochemical, oil refining and electric power generation industries, including cogeneration and geothermal plants. Graham equipment can be found in diverse applications, such as metal refining, pulp and paper processing, ship-building, water heating, refrigeration refrigeration, process for drawing heat from substances to lower their temperature, often for purposes of preservation. Refrigeration in its modern, portable form also depends on insulating materials that are thin yet effective. , desalination desalination or desalting Removal of dissolved salts from seawater and from the salty waters of inland seas, highly mineralized groundwaters, and municipal wastewaters. , food processing, drugs, heating, ventilating ventilating Natural or mechanically induced movement of fresh air into or through an enclosed space. The hazards of poor ventilation were not clearly understood until the early 20th century. Expired air may be laden with odors, heat, gases, or dust. and air conditioning. Graham's reach spans the globe. Its equipment is installed in facilities from North and South America to Europe, Asia, Africa and the Middle East. More information regarding Graham can be found at its website: www.graham-mfg.com Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. All forward-looking statements are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in Graham's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include the Company's ability to successfully execute the contract, that the estimated value of the production contract will be realized, customer preferences and changes in market conditions in the industries in which the Company operates. Should one or more of these risks or uncertainties materialize, or should the assumptions prove incorrect, actual results may vary in material aspects from those currently anticipated. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion