REG - Hardide PLC - New Aerospace Supply Agreement

HardideAnnouncement

18/12/2024 07:00

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RNS Number : 4616Q  Hardide PLC  18 December 2024

18(th) 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 (http://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.

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