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Oil boom fuels growth for Batavia-based Graham Corp.

Posted by Howard Owens on August 1, 2008 - 6:33am
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High oil prices are pushing refinery upgrades and expansion, which is good news to Batavia-based Graham Corp. Its revenue and profits are soaring, reports the Buffalo News.

Graham is coming off a fiscal year where profits and sales were the highest ever by a wide margin. The company’s stock, which traded for just over $10 in January 2007, now stands at $89.

And Graham’s order backlog and new order bookings are running at a record pace, prompting Lines to predict that the company’s growth spurt is far from over, with sales expected to rise by another 15 percent to 20 percent during the fiscal year that began in March. That would push revenues to around $100 million for the first time ever.

The article indicates that Graham is continuing to expand its work force, at home and aboard.

Posted by Russ Stresing on August 1, 2008 - 9:56am
Graham manufacturing continues to be a local success story. They've reaped the fruits of the global markets and stand as a model of how to take advantage of local skilled labor and regional business strengths by moving forward instead of trying to re-create. Its good to hear that there's a local silver lining in the dark cloud surrounding the rest of the energy crisis.