Graham Corporation’s first order is for a custom-engineered surface condenser and liquid ring pump package which will be installed at an oil sands processing facility in the province of Alberta, Canada. It will serve as a vapour recovery unit for bitumen storage tanks. The second order is also for a surface condenser and liquid ring pump package destined for a US refinery revamp intended to reduce the sulphur content in transportation fuel produced at the refinery. The third order is for ejector systems to be installed in India at a new ammonium/urea fertilizer producing facility, which, when completed, will be one of the largest in the world.
James R Lines, Graham’s president and chief executive officer said: “We were encouraged to see several large orders break loose during the quarter, particularly our win for the oil sands project. I believe that the oil sands order is important because it is Graham’s first in the extraction/production process. Investment in mew oil sands production is expected to ultimately lead to increases in capacity for the upgrade process where Graham has historically had a strong presence in this growing industry. Graham also continues to benefit from sulphur reduction initiatives in North America.”
Production and shipment for the three orders is expected to begin during Graham’s second quarter of fiscal 2012, ending 31 March 2012. As a result, revenue will be recognised in the second to fourth quarters of fiscal 2012.