Hardide PLC AGM Statement (3857E)
11 März 2022 - 8:00AM
UK Regulatory
TIDMHDD
RNS Number : 3857E
Hardide PLC
11 March 2022
11 March 2022
Hardide plc
("Hardide", "the Group" or "the Company")
AGM Statement
At the Annual General Meeting of Hardide plc (AIM: HDD) to be
held at 11:30am today, Robert Goddard, Chairman of the Group, will
make the following statement:
"We are delighted that the first half of the year has started
strongly with sales expected to be over 40% higher than the same
period last year. Oil and gas demand is growing and our customers
predict this to increase further in H2. Earlier this month we were
particularly pleased to announce developments in the power
generation sector with the first production set of gas turbine
blades coated and delivered to Ansaldo Energia. The second set of
turbine blades is due to be received later this month and further
sets of blades are due to be received throughout this year.
"Also in the period, first orders were received for coating
Airbus A320 components, with regular demand for these due to
commence in H2. Orders for coating Airbus A330 wing components are
also due to commence in H2. Leonardo Helicopters reported the
successful outcome of its transmission system test programme which
included Hardide-coated components and orders for these are also
expected to commence in H2.
"The new larger reactor at our UK site is expected to continue
to operate at high capacity as we continue to coat production sets
of turbine blades for Ansaldo Energia. The Board believes that
there is significant potential for further business from the gas
and steam turbine sector as the transition to net zero carbon
emissions gains pace.
"The Board is optimistic that the increasing demand from
existing customers and the high-volume potential of a number of
projects will result in the Group achieving its previous upward
sales trajectory.
"Half year results are expected to be published on or around 10
May 2022."
Enquiries:
Hardide plc Tel: +44 (0) 1869
Robert Goddard, Non-Executive Chairman 353830
Philip Kirkham, CEO
Jackie Robinson, Communications Manager
IFC Advisory Tel: +44 (0) 20 3934
Graham Herring / Tim Metcalfe / Florence 6630
Chandler
finnCap - Nominated Adviser and Joint Broker Tel: +44 (0) 20 7220
Henrik Persson / Abigail Kelly (corporate 0500
finance) Tel: +44 (0) 20 3328
Richard Chambers (ECM) 5656
Allenby Capital - Joint Broker
Jeremy Porter / Tony Quirke
Notes to editors:
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. Customers
include leading companies operating in the energy, aerospace and
industrial sectors.
www.hardide.com
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END
AGMFLFLSVIIILIF
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