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Non-Tech : Graham Corporation (GHM)
GHM 62.29+0.1%Oct 31 9:30 AM EST
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From: JakeStraw1/11/2011 3:08:00 PM
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Graham Corporation Acquires Nuclear-Accredited Supplier Energy Steel & Supply Co.
finance.yahoo.com

* Expands Graham’s presence and enhances its capabilities in the nuclear power industry
* Represents strong strategic fit:
o Provides market and product diversification
o Reduces cyclicality
o Accretive to first full year earnings

James R. Lines, Graham’s President and Chief Executive Officer, commented, “Energy Steel is an ideal complement to the Graham brand. It is a high-quality, custom fabricator offering specialized solutions to the nuclear industry and has a strong reputation for providing superior customer service. Acquiring Energy Steel is a logical step in broadening Graham’s offerings to the energy markets and strengthening our presence in the nuclear sector in particular, which we consider an important growth market. I believe that the acquisition is an excellent strategic fit for us as it achieves our goals of growing through market and product diversification while reducing the cyclicality inherent in the oil and petrochemical industry. Energy Steel has been successful in its growth by taking market share within existing nuclear power plants. We expect that there is excellent future potential in leveraging Energy Steel’s nuclear capability with Graham’s engineering expertise in the expanding utility nuclear power base.”
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