Graham buys nuclear industry parts maker
Batavia-based Graham Corp., which made its name and money supporting oil exploration and drilling, is moving into the nuclear industry.
Yesterday, Graham announced the acquisition of Michigan-based Energy Steel for $18 million.
The newly acquired company, with 52 employees, is expected to remain in Michigan and no layoffs are expected.
Graham tapped into its $71 million cash reserve to make the purchase, according to the Buffalo News.