US facility
25 Aprile 2005 - 9:00AM
UK Regulatory
RNS Number:4384L
Hardide PLC
25 April 2005
Press Release 25 April 2005
Hardide to establish US manufacturing and sales capacity in response to growing
demand
Hardide plc ("Hardide" or "the Company"), the provider of unique surface
engineering technology, announces its intention to establish a sales and
manufacturing facility in Houston, Texas. The investment will address the
growing demand for Hardide's products in the oil and gas sector.
In addition to rising order levels from US-based customers operating in the oil
and gas sector, Hardide is also experiencing a substantial increase in the
number of customer enquiries. Consequently the Company has decided to
accelerate its plans for US markets by initially establishing a commercial
office, which will be followed by the installation of a processing facility
housing two CVD (chemical vapour deposition) coating furnaces together with
associated support equipment. The cost of the graduated programme is #40,000 per
month initially, rising to an estimated total investment of some #2.6 million
over 24 months.
Jim Murray-Smith, Chief Executive, said: "There is a clearly demonstrated and
growing demand from the oil and gas drilling and downhole sector for a
high-performance abrasion- and corrosive-resistant coating that will prolong
component life and minimise downtime. Hardide, which has been proven to offer
significant cost savings across the supply chain, needs to answer that demand.
"A Houston facility will give us a launch-pad into the North American market and
enable us to provide a cost-effective and efficient service. We are in the
process of identifying suitable premises and will be recruiting local
technicians. A technical team from the UK will set up the facility and train
the local team."
Hardide will be represented at the Offshore Technology Conference (OTC), taking
place in Houston on 2 to 5 May 2005.
Ends
For further information:
Hardide plc
Jim Murray Smith, Chief Executive Tel: +44 (0) 1869 353 830
jmurray-smith@hardide.com www.hardide.com
Seymour Pierce
Sarah Wharry / Jeremy Porter, Corporate Finance Tel: +44 (0) 20 7107 8000
Media enquiries:
Abchurch
Peter Curtain / Chris Lane Tel: +44 (0) 20 7398 7700
chris.lane@abchurch-group.com www.abchurch-group.com
Notes to editors
Hardide provides and applies tungsten carbide coatings to a wide range of
engineering components. The Company's patented technology is unique in that it
combines both abrasion- and-corrosion resistant properties in one coating. When
applied to components, the technology is proven to offer dramatic cost savings
through reduced downtime and extended component life. Customers include leading
companies operating in oil and gas exploration, valve and pumps manufacturing
and general engineering.
Founded in 2000, Hardide operates three industrial coating facilities in
Bicester, Oxfordshire, UK.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCPKBKDOBKDOQB
Grafico Azioni Hardide (LSE:HDD)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Hardide (LSE:HDD)
Storico
Da Lug 2023 a Lug 2024