Hardide PLC Airbus Global Approved Supplier Status Gained (7979A)

TIDMHDD

RNS Number : 7979A

Hardide PLC

29 March 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF EU REGULATION 596/2014

 
 Press Release   29 March 2017 
 

Hardide plc

("Hardide" or "the Group" or "the Company")

AIRBUS GLOBAL APPROVED SUPPLIER STATUS GAINED

Hardide plc (AIM: HDD), the provider of surface coating technology, is pleased to announce that it has now completed the Airbus Industrial Qualification process and has gained Approved Supplier status from the Airbus Group for the coating of flying components.

This final part of the approval process follows technical qualification of the Hardide-A coating by Airbus as an alternative to hard chrome plating, which was announced in December 2015. Over the past year Hardide has been working very closely with Airbus engineers to ensure that the Hardide process meets Airbus's stringent process specifications. Airbus has now granted industrial approval of the complex coating process and Hardide is on the global Airbus Approved Supplier list.

Airbus and its component suppliers are now able to place production orders on Hardide to coat aircraft components and the Company is already in commercial discussions with several Airbus sites about the coating of specific components. Nonetheless the Board does not expect there to be any material change to the revenue forecasts for this financial year.

Separately, Hardide continues to make good progress towards gaining the aerospace industry's Nadcap accreditation.

Welcoming this final stage in the Airbus approval process, Philip Kirkham, CEO of Hardide plc said: "Extensive work has been carried out over the past year with Airbus to prove compliance with their stringent processing and control standards required to coat flying parts. This final approval is the culmination of many years of hard work and a tremendous achievement for the Hardide team. We now look forward to working with Airbus and its partners to realise our ambition to coat production parts.

"Aerospace is a cornerstone of Hardide's growth strategy and today's announcement enables us to move significantly along that path."

 
  For further information: 
   Hardide plc 
   Philip Kirkham, CEO                    Tel: [phone] 
    Jackie Robinson, Communications       830 
    Manager 
  finnCap                                  Tel: [phone] 
   Stuart Andrews /Henrik Persson/James     0500 
   Thomson 
 

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. Hardide-A is a variant of the Company's tungsten/tungsten carbide coating range developed specifically for the aerospace industry to replace hard chrome plating. Customers include leading companies operating in oil and gas exploration and production, valve and pump manufacturing, nuclear, precision engineering and aerospace industries.

This information is provided by RNS

The company news service from the London Stock Exchange

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March 29, 2017 02:00 ET (06:00 GMT)