A US oil refinery located on the Gulf Coast will be refurbishing and upgrading an ejector system originally supplied by Graham 12 years ago. The refinery has a short window of opportunity to complete the ejector system upgrade in the summer of 2008, so shipment of the final equipment from Graham is scheduled for the first quarter of fiscal 2008, ending June 30, 2008.
The second order was received from a US turbo machinery original equipment manufacturer (OEM) for two steam surface condensers to support compression equipment that will be installed in a Russian oil refinery. Revenue from this contract will be recognized on a percentage of completion basis with final shipment planned for the third quarter of fiscal year 2009, ending December 31, 2008.
Jim Lines, president and COO of Graham, said: Our ejectors and condenser systems are critical equipment in the refining process, and we continue to be successful in winning these types of orders because of our long history and reputation for delivering reliable, high-quality products while meeting our customers’ deadlines and expectations. We believe that our strong relationships with equipment end-users, OEMs and engineering and procurement contractors position us well to continue to win orders in this robust market.
