18th December 2024
The information contained within this
announcement is deemed by Hardide to constitute inside information
pursuant to Article 7 of EU Regulation 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 as amended.
Hardide plc
("Hardide", the
"Group" or the "Company")
New Aerospace Supply
Agreement
Hardide plc (AIM: HDD), the provider of advanced
surface coating technology, is pleased to announce that it has
signed a 10-year supply agreement with a major customer in the
Aerospace sector for the coating of cargo door
components.
Hardide's advanced tungsten-carbide coatings are
proven to provide superior erosion and wear performance, improving
the operating life of the components when compared with competing
coatings, whilst also providing a REACH compliant
solution.
Customer-funded equipment modifications due to
be largely completed in the first half of the financial year,
together with subsequent tooling and initial production volumes are
together expected to benefit current financial year revenues by at
least £0.5m.
Thereafter, based on the customer's anticipated
build rates for the relevant aircraft, production revenues are
expected to be within the range of £6m to £8m over the 10-year
timeframe based on senior management expectations.
Matt Hamblin, CEO, commented "We are delighted
with this additional work win, this news helps underpin our
forecasts for profitable growth in the current financial year and
further demonstrates the role our technology can play in sectors
requiring advanced surface treatment solutions".
Enquiries:
Hardide
plc
Matt Hamblin
(CEO)
Tel: +44 (0)1869 353830
Andrew Magson (Non-Executive Chair)
Cavendish
Capital Markets Ltd - Broker and Nominated
Adviser
Henrik Persson / Elysia Bough (Corporate
Finance)
Tel: +44 (0) 2072 200 500
Jasper Berry / Dale Bellis (Sales)
Notes to
editors:
www.Hardide.com
Hardide develops, manufactures and applies
advanced technology tungsten carbide/tungsten metal matrix 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 as well as a reduced carbon footprint. Customers include
leading companies operating in the energy sectors, valve and pump
manufacturing, industrial gas turbine, precision engineering and
aerospace industries.