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December 16, 2010 - 2:26pm

Graham buys nuclear industry parts maker

posted by Howard B. Owens in batavia, business, graham corp.

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.

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