GRAHAM CORP
For the period ended Mar 31, 2025. Filed Jun 9, 2025.
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FY2025 · Filed Jun 9, 2025
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Item 2. Properties
As of March 31, 2025, we conducted our business from the following locations.
| Location · Products/Operations · Square Footage · Owned or Leased | ||||
|---|---|---|---|---|
| 1 | Batavia, NY | Corporate Headquarters | 43,000 | Owned |
| 2 | Batavia, NY | Manufacturing, Warehousing and R&D | 270,000 | Owned |
| 3 | Arvada, CO | Office | 18,000 | Leased |
| 4 | Arvada, CO | Manufacturing and Warehousing | 83,000 | Leased |
| 5 | Houston, TX | Sales Office | 1,500 | Leased |
| 6 | Jupiter, FL | Manufacturing and R&D | 16,900 | Leased |
| 7 | Suzhou, China | Sales and Engineering | 4,900 | Leased |
| 8 | Ahmedabad, India | Sales and Engineering | 800 | Leased |
| 9 | Pune, India | Sales and Engineering | 175 | Leased |
We believe that our properties are generally in good condition, are well maintained, and are suitable and adequate to carry on our business. However, in order to support our future growth, we have initiated the following capital projects:
During fiscal 2024, we received a $13,500 strategic investment from a major Defense customer to expand and enhance our Batavia, NY production capabilities. This expansion will include the construction of a new 30,000 square foot manufacturing facility on our existing campus, and the purchase of production and automated welding equipment to be used in that facility. This facility is scheduled to be completed in the first quarter of fiscal 2026.
During fiscal 2025, we purchased a plot of land adjacent to the BN campus in order to support organic growth. We intend to construct an additional manufacturing facility on that site some time in 2026, but only if future anticipated demand warrants it.
During fiscal 2025, we purchased land and began construction of a cryogenic (liquid hydrogen, oxygen, methane) testing facility near our P3 subsidiary. This facility enhances our capabilities and will allow us to provide quality assurance testing for our customers. This facility is scheduled to be completed in the first quarter of fiscal 2026.
During fiscal 2025, we received a $2,200 strategic investment from a major Defense customer to support the implementation of new Radiographic Testing (“RT”) equipment at our Batavia, NY facility. We intend to contribute an additional $1,400 towards this project for a total project cost of $3,600. This expansion is expected to be completed in the third quarter of fiscal 2026.
We believe we will be able to construct these facilities on commercially reasonable terms. We expect to spend between 7% to 10% of revenue on capital expenditures each year for the next several years in order to fund our future growth.
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