graham corporation

Graham Corporation (NYSE: GHM), a Batavia-based global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical and defense industries, on Thursday announced that it secured $11 million in orders for three oil-refining projects in Asia.

Two projects are in Southeast Asia while the largest project is the first large order received in India by the Company and is with a new customer.

James R. Lines, Graham’s president and chief executive officer, said, “We believe our effective execution on strategy and our consultative selling platform enabled us to capture these awards during a period of intense competition and focus on price.

"We believe that our decision to localize in India provided us the opportunity to successfully compete on that project and is also keeping the bid pipeline in that country quite active. We continued to leverage our global fabrication supply chain where appropriate in order to compete effectively, and we stayed engaged throughout the nearly two year pipeline cycle with both buyers and end users to ensure we addressed their requirements.”

Press release:

The Genesee County Economic Development Center (GCEDC) will consider accepting applications for incentives from Graham Manufacturing and Gateway GS, LLC at the agency’s Feb. 7 board meeting. 

Graham Manufacturing is seeking incentives for a $1.075 million capital investment for various properties at its campus in the City of Batavia. The investment would renovate 8,000 square feet of existing space for expanded workforce training and add 5,000 square feet of new space for the construction of a warehouse. The project would help retain 291 jobs.

Gateway GS, LLC is proposing to invest $450,000 to build out the interior of a spec building the company constructed in 2018 at the Gateway II Corporate Park in Batavia. The project would create five new jobs.

Since each project would receive benefits of more than $100,000 public hearings would be scheduled if the applications for incentives are accepted by the GCEDC Board.

All GCEDC Board meetings are open to the public. Meetings are at 4 p.m. unless noted otherwise and take place at 99 MedTech Drive in Batavia across from Genesee Community College.

Press release:

Graham Corporation (NYSE: GHM), a global business that designs, manufactures and sells critical equipment for the oil refining, petrochemical, power and defense industries, today announced that it has established Graham India Private Limited (“GIPL”) as a wholly owned subsidiary. GIPL, based in the northwest region of India, in Ahmedabad, has been initiated as a sales and market development office with an Indian national as sales director and business development leader.

Graham’s establishment of this new entity was driven by several strategic and macroeconomic factors. Asia is a key region for investment in new crude oil refining and petrochemical capacity, with India being an important market for such investments. The Company anticipates that stronger and more consistent consultative customer support will lead to expanded bidding participation in the region. Further, having a local presence is expected to enhance Graham’s development of India fabrication partners who can assist the Company in addressing government policy and preference for fabrication in India. Finally, Graham believes that having a local entity demonstrates its enduring commitment to the Indian refining, petrochemical and fertilizer markets.

James R. Lines, Graham’s president and chief executive officer, commented, “India continues to experience strong economic growth, projecting ongoing GDP growth surpassing 6 percent annually. We expect this growth will drive capital investment in new refining, petrochemical and fertilizer capacity, all of which are important end markets for Graham. Over time, we plan to build out GIPL’s organization structure with additional sales and engineering support staff, along with fabrication and quality control specialists. We believe that our local presence will increase bidding participation and, ultimately, increase market share within our targeted end markets.”

Graham Corporation employees took on a special cause this past week -- donating backpacks and other school supplies to be distributed to local schoolchildren through the Salvation Army.

Student Transportation of America agreed to park a school bus on the Graham property so the 250 local employees could have a convenient place to drop off their donations.

Julie Roloson, human resources director, said the Graham community wanted to take on a new challenge to support the local community.

"Graham takes great pride in how many events and donations we can make locally and this happened to be one that we tried for the first time and we hope it will be very successful year after year," Roloson said. "We’re extremely proud to participate."

Lower oil prices could hurt Batavia-based Graham Corp. in the coming fiscal year, company officials say, so they're looking to trim the company workforce by 10 percent through a retirement incentive program.

The workforce reduction announcement was coupled with news that the publicly traded company posted $4.2 million in profits, up 80 percent from a year ago.

For the fiscal year, company revenue was up 45 percent to $14.7 million.

For more on this story, visit the Buffalo News.

Batavia-based Graham Corporation is bouncing back from the economic downturn, CEO James R. Lines told the Buffalo News.

The company has recently booked $37 million in orders and that revenue should start hitting the books by the fall.

“We believe that sales over the next few quarters will continue to reflect the sporadic nature of order receipt that began over a year ago,” Lines said. “We also believe this should be the bottom of the cycle for us.”

Graham still expects its sales during the fiscal year that ends in March to be between $60 million and $65 million, down from its record sales of $101 million the year before.