Hardide PLC Major order and diversification success (4753J)

TIDMHDD

RNS Number : 4753J

Hardide PLC

18 December 2015

Hardide plc

("Hardide" or "the Company")

Major order and diversification success

Hardide plc (AIM: HDD), the provider of surface coating technology, is pleased to announce a major order worth more than GBP300,000 to supply crucial coated components for a new type of airport high-speed X-ray baggage screening machine.

The order, to supply the customer's requirements between February and September 2016, represents further notable progress in the Company's diversification of its customer base, both by client and by sector, and a reduction in dependency on the oil & gas market.

Volume production of the three-dimensional X-ray baggage screening machine began earlier this year and Hardide expects demand to increase further as the new machine is rolled out globally. This new business supports the Company's forecasts and its turnover projection remains unchanged for the year to 30 September 2016.

Philip Kirkham, CEO of Hardide plc said: "Our success in securing this order is a major advance in our strategy of diversifying the customer base into new sectors and reduces our dependency on the oil & gas market. We are coating a crucial component in a revolutionary new type of three-dimensional, high speed airport baggage screening machine. This order is both a technical and commercial success for Hardide and illustrates the opportunities that we believe exist for its coating technology in many advanced engineering sectors beyond oil and gas."

ENDS

For further information:

 
  Hardide plc 
  Philip Kirkham, CEO                Tel: +44 (0) 1869 353 
   Jackie Robinson, Communications   830 
   Manager 
 
   finnCap 
   Stuart Andrews / Grant             Tel: +44 (0)20 7220 
   Bergman                            0500

Notes to editors:

www.hardide.com

Hardide develops, manufactures and applies advanced technology tungsten-carbide coatings to a wide range of engineering components. Its patented technology is unique in combining, in one material, a mix of toughness and resistance to abrasion, erosion and corrosion; together with the ability to coat accurately interior surfaces and complex geometries. The material is proven to offer dramatic improvements in component life, particularly when applied to components that operate in very aggressive environments. This results in cost savings through reduced downtime and increased operational efficiency. Customers include leading companies operating in oil and gas exploration and production, valve and pump manufacturing, nuclear, advanced engineering and aerospace industries.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 18, 2015 02:00 ET (07:00 GMT)

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