Graham Corporation Announces Groundbreaking Ceremony for $17.6 Million Manufacturing Facility on Batavia, New York Campus
2024年8月19日 - 9:00PM
ビジネスワイヤ(英語)
New 29,000 square foot building will create 24
new full-time positions; expect to begin commercial operation
summer of 2025
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, announced that its
operating company, Graham Manufacturing, will hold a groundbreaking
ceremony today for its new 29,000-square-foot facility in Batavia,
NY. This event marks a significant milestone in the Company’s
ongoing growth and commitment to serving its customers and the
community. The project represents a total investment of
approximately $17.6 million, which includes a strategic investment
of $13.5 million from one of the Company’s valued customers, with
the remaining investment provided by Graham.
State and local officials will join Graham’s executive
leadership and construction managers in turning the first
ceremonial shovels of dirt, officially launching the building
project.
The construction of the new facility is expected to be completed
over the next twelve months with operations beginning shortly
thereafter. The building will be equipped with state-of-the-art
technology and designed with sustainability in mind, aligning with
Graham’s broader environmental goals.
Dan Thoren, Graham Corporation President and Chief Executive
Officer, commented, “Our new facility will play a key role in
enhancing our operational capabilities, providing the expanded
capacity to accelerate production to meet our customers’ growing
requirements, particularly the U.S. Navy. Moreover, it will enable
us to make a positive impact on the Batavia community. Once
operational, the expanded operations are expected to create 24 new
full-time skilled positions, reinforcing our commitment to job
creation and community development.”
U.S. Senator Charles Schumer said, “Graham’s Batavia, NY
workforce and the products they make are integral to supporting our
nation’s national defense, and today’s $18 million expansion
doubles down on their world-class work as a strategic supplier for
the U.S. Navy. I’ve been proud to secure vital federal funding for
the U.S. Navy’s Submarine and Aircraft Carriers Industrial Base
supply chain that the Navy relies on to purchase technology and
equipment made right here in Batavia by Graham’s existing
367-employee local workforce. This not only supports these local
jobs, but enables the new 24-job $18 million expansion that we
break ground on today. With today’s expansion, I commend Graham for
setting sail to reach new horizons not only in this company’s
growth but in support of our national defense.”
Claudia Tenney, U.S. Representative for New York's 24th
Congressional District, said, “Congratulations to Graham
Corporation on breaking ground on this new manufacturing facility
here in Batavia. Graham Corporation's commitment to creating
quality and innovative technologies for our military and providing
24 new job opportunities in our community is commendable. I am
eager to witness the continued growth and positive impact Graham
Corporation will have in our community and around the world."
Graham is working with Ciurzynski Consulting, Montante
Construction and Wolfe Architecture to design and build the
advanced manufacturing facility.
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 “expects,” “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, timing on the completion of construction, potential
expansion of operations, potential job creation, the timing on
beginning new operations, 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/20240819979937/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
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