BATAVIA, N.Y.–(Organization WIRE)–Graham Corporation (NYSE: GHM), a world wide business enterprise that types, manufactures and sells critical tools for the protection/space, power/new electricity and chemical/petrochemical industries, today introduced that Jeffrey F. Glajch, Main Economical Officer, who has served as CFO for 13 a long time, ideas to retire in the second calendar quarter of 2022 following the appointment of his successor. The Business has initiated a in depth external look for to establish a successor for this job.
Daniel J. Thoren, President and CEO, commented, “I have experienced the satisfaction of working with Jeff the last 6 months at Graham and also for practically a few yrs all through the procedure of the Barber-Nichols (“BN”) acquisition. He has shown tenacity, integrity and a sturdy small business acumen and has been very useful as we provide these two firms together. Importantly, he has been instrumental in our improvement of approaches to provide advancement and I am self-confident he will keep on to be a key contributor by way of the search and changeover. Our research for a successor is underway and I count on who we in the end choose will have the knowledge and capabilities to address the expanded duties of this important role to assistance us supply on our Company’s expansion aims.”
Mr. Glajch famous, “These are interesting times for Graham. I am happy of possessing led our acquisition of Barber-Nichols which has transformed Graham. We have turn out to be a protection and house focused organization with quite a few other chances for expansion, which include in new power. Concurrently, we remain strongly fully commited to advancing our extremely properly positioned regular electrical power and petrochemicals business enterprise. With our financial commitment in BN, we now have a significantly more efficient harmony sheet and also are doing work to generate growth. My retirement in the second calendar quarter of 2022 enables for a full yr put up acquisition, which I feel is sufficient time to empower a clean changeover, as very well as the completion of fiscal 12 months 2022. I am extremely self-assured in Graham’s long term and the Company’s commitment to advancing advancement.”
ABOUT GRAHAM Corporation
Graham is a world business enterprise that patterns, manufactures and sells important machines for the defense/space, power and advanced energy and chemical/petrochemical industries. The Graham and Barber-Nichols’ worldwide brands are developed on environment-renowned engineering abilities in vacuum and heat transfer, cryogenics, and turbomachinery systems, as well as the Company’s responsive and flexible support and unsurpassed quality.
Graham routinely posts information and other important information and facts on its internet site, www.graham-mfg.com, where added complete info on Graham Company and its subsidiaries can be found.
Safe and sound Harbor With regards to Ahead Searching Statements
This news launch contains forward-searching statements inside of the indicating of Segment 27A of the Securities Act of 1933, as amended, and Segment 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are issue to challenges, uncertainties and assumptions and are recognized by text these types of as “expects,” “estimates,” “confidence,” “projects,” “typically,” “outlook,” “anticipates,” “indicates”, “believes,” “appears,” “could,” “opportunities,” “seeking,” “plans,” “aim,” “pursuit,” “look towards” and other related terms. All statements addressing running overall performance, situations, or developments that Graham Corporation expects or anticipates will come about in the potential, like but not confined to, envisioned growth and development opportunities in just its defense and power marketplaces, anticipated revenue, the timing of conversion of backlog to sales, buy momentum and need for our merchandise, sector presence, revenue margins, tax costs, overseas income operations, its capacity to make improvements to charge competitiveness and productivity, shopper preferences, adjustments in market place problems in the industries in which it operates, the outcome on its company of volatility in commodities selling prices, like, but not limited to modifications in typical financial circumstances and consumer behavior, forecasts regarding the timing and scope of the economic restoration in its markets, its acquisition and growth tactic are ahead-wanting statements. Simply because they are ahead-seeking, they should be evaluated in light of important hazard factors and uncertainties. These possibility aspects and uncertainties are extra thoroughly explained in Graham Corporation’s most new Once-a-year Report filed with the Securities and Trade Commission, which includes below the heading entitled “Risk Aspects,” its quarterly stories on Type 10-Q, and other filings it helps make with the Securities and Trade Commission. Need to one or extra of these challenges or uncertainties materialize or ought to any of Graham Corporation’s underlying assumptions show incorrect, precise success may change materially from those at this time anticipated. In addition, undue reliance should really not be placed on Graham Corporation’s forward-searching statements. Apart from as essential by law, Graham Corporation disclaims any obligation to update or publicly announce any revisions to any of the forward-on the lookout statements contained in this information launch.