Graham Corporation Wins Over $65 Million in Defense and Space Industry Contracts for Mission Critical Turbomachinery and Cryogenic Pump Products
2024年8月5日 - 7:55PM
ビジネスワイヤ(英語)
- Secures new contract to provide the MK19 Air Turbine Pump
assembly for the Columbia-class submarine
- Wins new contract to provide cryogenic recirculation pumps for
space launch vehicles
- Awarded another option year for alternators and regulators to
support the MK48 Mod 7 Heavyweight Torpedo program
Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a
global leader in the design and manufacture of mission critical
fluid, power, heat transfer, and vacuum technologies for the
defense, space, energy, and process industries, today announced
that it was awarded three contracts with a combined value of over
$65 million.
Matthew Malone, Vice President, Graham Corporation and General
Manager - Barber-Nichols, commented, “We believe the investments we
have made in our engineering and operations to expand our capacity
and increase our capabilities to serve the defense and space
industries led to our being awarded these contracts. We
differentiated our solutions through our strong customer
relationships, engineering expertise, precision manufacturing
capabilities and rigorous testing and qualification processes. Our
solutions are vital components that meet the high-level performance
requirements for mission critical applications. We appreciate our
customers’ confidence to select us for these high-value
projects.”
The second option year award supporting the MK48 Mod 7
Heavyweight Torpedo program was received in the first quarter of
fiscal 2025 which ended June 30, 2024. The Company will continue to
provide alternators and regulators for this program. The contract
award for the Company to provide the MK19 air turbine pump for the
torpedo ejection system on the Columbia-class submarine was awarded
in the second quarter of fiscal 2025 ending September 30, 2024.
This is a new program for the Company and was won through a
competitive bid process.
Also awarded in the second quarter was a contract to provide the
cryogenic recirculation pump that provides thermal conditioning for
upper stage engines on launch vehicles in space. The products for
all three of these contracts will be manufactured at the Company’s
Arvada, Colorado operations.
The revenue for the contracts to provide the second-stage
cryogenic recirculation pump and to support the MK48 Mod 7
Heavyweight Torpedo program will be recognized over varied periods
for the next three years while revenue for the MK19 program will be
recognized over varied periods for the next eight years. The
revenue from these awards had been considered in the Company’s
outlook for fiscal 2025.
About Graham Corporation Graham is a global leader in the
design and manufacture of mission critical fluid, power, heat
transfer and vacuum technologies for the defense, space, energy,
and process industries. Graham Corporation and its family of global
brands are built upon world-renowned engineering expertise in
vacuum and heat transfer, cryogenic pumps, and turbomachinery
technologies, as well as its responsive and flexible service and
the unsurpassed quality customers have come to expect from the
Company’s products and systems. Graham Corporation routinely posts
news and other important information on its website,
grahamcorp.com, where additional information on Graham Corporation
and its businesses 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 “believe,”
“expects,” “potential,” “will,” 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, winning
potential future or multi-year orders, potential revenues and
timing of such revenues, and delivering timely or otherwise on
schedule 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 Report filed with the Securities and Exchange
Commission, including under the heading entitled “Risk Factors,”
its quarterly reports on Form 10-Q, and other filings it makes with
the Securities and Exchange Commission. 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 news release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240805588155/en/
Christopher J. Thome Vice President - Finance and CFO Phone:
(585) 343-2216
Deborah K. Pawlowski Kei Advisors LLC Phone: (716) 843-3908
dpawlowski@keiadvisors.com
Graham (NYSE:GHM)
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