Hardide PLC AGM Statement (6080P)
22 Febbraio 2016 - 8:00AM
UK Regulatory
TIDMHDD
RNS Number : 6080P
Hardide PLC
22 February 2016
22 February 2016
Hardide plc
("Hardide" or the "Company")
AGM Statement
At the Annual General Meeting of Hardide plc (AIM: HDD) to be
held today at 11:30am, Robert Goddard, Chairman of the Company,
will make the following statement:
"Hardide continues to make good progress in diversifying its
customer base and thereby reducing reliance on a major customer and
market sector. However, demand from the upstream oil & gas
market is very subdued. The technical approval of the coating by
Airbus, the recently-announced long-term supply contract for
components for the revolutionary X-ray baggage scanner and other
potentially high-value applications currently in test give the
board confidence about the medium and long term prospects of the
Company.
"The new US facility is fully operational and producing good
quality coatings on customer parts for verification and life
testing. Full-scale production is due to commence early in calendar
Q2 2016. Additional employees have been hired to enable production
levels of operation.
"The Board continues to monitor the oil & gas markets
closely and is keeping the Company's cost base under tight
control.
"Half year results are expected to be published in late May when
there will be a further update on trading."
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
END
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