Hardide PLC Major Supply Agreement with Graco, Inc (7373F)
22 May 2017 - 4:00PM
UK Regulatory
TIDMHDD
RNS Number : 7373F
Hardide PLC
22 May 2017
22 May 2017
Hardide plc
("Hardide" or "the Group" or "the Company")
Major Supply Agreement with Graco, Inc
Hardide plc (AIM: HDD), the provider of advanced surface coating
technology, is pleased to announce that Group company Hardide
Coatings Limited has signed a new seven-year supply agreement with
Graco Inc. of Minneapolis, USA for the coating of various pump
components. The agreement follows on from an existing agreement
which expires in 2017. It is expected to be worth in excess of
US$4m over the period and helps to underpin the Board's current
year forecasts.
The majority of the orders will be fulfilled from the Company's
US production facility in Martinsville, Virginia.
Philip Kirkham, CEO of Hardide plc said: "We have built up an
excellent working relationship with Graco over the years and
continue to work with them to maximise the performance of different
pump components for a number of end-user markets."
Graco, founded in 1926 is a world leader in fluid handling
systems and supplies technology and expertise for the management of
fluids and coatings in both industrial and commercial applications.
It designs, manufactures and markets systems and equipment to move,
measure, control, dispense and spray fluid and powder materials.
Graco is quoted on the New York Stock Exchange (NYSE:GGG).
- Ends -
For further information:
Hardide plc Tel: +44 (0) 1869
Philip Kirkham, CEO 353 830
Jackie Robinson, Communications Manager
finnCap
Stuart Andrews /Henrik Persson/James Tel: +44 (0)20
Thompson 7220 0500
IFC Advisory
Graham Herring/Heather Armstrong Tel: +44 (0)20
3053 8761
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, power generation, precision engineering and
aerospace industries.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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