-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 RUsRDdIGaELDTKE2RjxYI/OBn/Fyvyh9bAn7DvkAl6O13Wz1aGHW9bFY4eaOk5wr
 E84mSFfforDfe9Nxog99AA==

<SEC-DOCUMENT>0000716314-05-000010.txt : 20050321
<SEC-HEADER>0000716314-05-000010.hdr.sgml : 20050321
<ACCEPTANCE-DATETIME>20050321160939
ACCESSION NUMBER:		0000716314-05-000010
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050315
ITEM INFORMATION:		Cost Associated with Exit or Disposal Activities
FILED AS OF DATE:		20050321
DATE AS OF CHANGE:		20050321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GRAHAM CORP
		CENTRAL INDEX KEY:			0000716314
		STANDARD INDUSTRIAL CLASSIFICATION:	GENERAL INDUSTRIAL MACHINERY & EQUIPMENT [3560]
		IRS NUMBER:				161194720
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08462
		FILM NUMBER:		05694342

	BUSINESS ADDRESS:	
		STREET 1:		20 FLORENCE AVE
		STREET 2:		POST OFFICE BOX 719
		CITY:			BATAVIA
		STATE:			NY
		ZIP:			14020
		BUSINESS PHONE:		5853432216

	MAIL ADDRESS:	
		STREET 1:		20 FLORENCE AVENUE
		STREET 2:		POST OFFICE BOX 719
		CITY:			BATAVIA
		STATE:			NY
		ZIP:			14021-0719
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>fm8kc305.txt
<DESCRIPTION>FORM 8-K
<TEXT>


                           UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                      WASHINGTON, D. C. 20549
                             _________

                             FORM 8-K

                          CURRENT REPORT
              Pursuant to Section 13 or 15(d) of the
                  Securities Exchange Act of 1934

 Date of Report (Date of earliest event reported):  March 15, 2005

                        GRAHAM CORPORATION
        (exact name of registrant as specified in Charter)


Delaware              1-8462                      16-1194720
- --------              ------                      ----------
(State  or other      (Commission File Number)    (IRS Employer
jurisdiction of                                   Identification Number)
Incorporation


            20 Florence Avenue, Batavia, New York 14020
            -------------------------------------------
             (Address of principal executive offices)


Registrant's telephone number, including area code: (585) 343-2216
                                                    --------------

                                N/A
   -------------------------------------------------------------
   (Former name or former address, if changed since last report)

   Check  the  appropriate box below if the  Form  8-K  filing  is
intended  to simultaneously satisfy the filing obligation  of  the
registrant  under  any  of the following provisions  (see  General
Instruction A.2. below):

      Written  communications  pursuant  to  Rule  425  under  the
 --   Securities Act (17 CFR 230.425)

      Soliciting  material  pursuant  to  Rule  14a-12  under  the
 --   Exchange Act (17 CFR 240.14a-12)

        Pre-commencement communications pursuant to Rule  14d-2(b)
 --     under the Exchange Act (17 CFR 240.14d-2(b))

        Pre-commencement communications pursuant to Rule  13e-4(c)
 --     under the Exchange Act (17 CFR 240.13e-4(c))






<Page>2

Item  2.05.  Costs Associated with Exit or Disposal Activities
             -------------------------------------------------

On March 15, 2005, Graham Corporation's Board of Directors
approved a plan presented by the Company's management to
discontinue its U.K. operations by making available for sale
the Company's wholly-owned subsidiary, Graham Vacuum and Heat
Transfer Limited and all of its subsidiaries ("GVHT"), including
GVHT's operating subsidiary Graham Precision Pumps Limited
("GPPL") in Congleton, Cheshire, U.K., and to hold them for
sale.

The Company proposes to place GVHT and subsidiaries in
administration and to appoint an appropriately qualified U.K.
administrator for GVHT and GPPL as a step toward proceeding
with sale of the companies. Graham Corporation management
expects that the disposition will be completed by March 14,
2006.

The Company expects to incur charges in the fourth quarter of
its Fiscal Year 2004-2005 associated with the discontinuance
of the U.K. companies, but the Company is not able, as of
the date of filing of this Report, to determine the amount of
those charges and will disclose them in an amendment to this
report.

                         SIGNATURES

      Pursuant to the requirements of the Securities Exchange  Act
of  1934, the registrant has duly caused this report to be  signed
on its behalf by the undersigned thereunto duly authorized.

                                   GRAHAM CORPORATION
                                   (Registrant)



Date: March 21, 2005           By
__________________________         ________________________
                                   J. Ronald Hansen
                                   Vice President - Finance
                                   & Administration and
                                   Chief Financial Officer

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
