Hardide PLC Oil and Gas Sales Growth Fuels Hardide Appointment

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Hardide PLC

03 October 2012

 
 Press Release   3 October 2012 
 

Hardide plc

OIL AND GAS SALES GROWTH FUELS HARDIDE APPOINTMENT

Surface engineering technology company Hardide Coatings Ltd, part of Hardide plc (AIM:HDD), has grown its turnover in the oil and gas sector by 40% in the last 12 months. The company has recently added one of the largest global providers of oilfield services and products to its customer list and is developing several new applications for five blue chip oilfield services companies. New orders have been secured from two downhole drilling tool manufacturers and an oil and gas valve manufacturer. Also, tests are underway with several smaller drilling-related companies.

To develop further sales in this sector, the company has appointed a dedicated business development manager. Martin Wainwright has joined to increase sales of Hardide's patented, nano-structured, tungsten carbide component coatings to new and existing oil and gas customers worldwide.

Martin brings a wide range of sales and business development experience gained in the oil and gas and other engineering industries. An apprentice-trained mechanical engineer, he is experienced in highly-technical process of selling of industrial surface coatings for use in extremely challenging environments. Most recently Martin was with CTW (Hardfacing) Ltd / Celcoat Ltd where he built a successful track record in identifying and selling into new markets worldwide. Previously, he held sales and technical positions with Mayflower Engineering, Star Precision and Devol Engineering.

Philip Kirkham, chief executive officer of Hardide Coatings said: "Hardide has enjoyed success with a mix of the leading international oilfield service companies and smaller, innovative downhole tool developers but the recruitment of Martin will take us to the next level in an industry where Hardide can offer operators and service companies significant cost savings through reduced downtime and extended tool and valve life."

Martin Wainwright added: "The Hardide coating provides customers with a significant competitive advantage on parts that are deployed in severe service conditions where failure can be enormously expensive. I am excited to be concentrating on the oil and gas sector which is experiencing high levels of activity and is always receptive to new technologies that enhance performance and return on investment."

www.hardide.com

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For further information contact:

Jackie Robinson

Tel: + 44 (0) 7711 281915

Email: [e-mail]

Note to editors:

Hardide Coatings has developed a family of tungsten carbide-based coatings which offer an unprecedented combination of ultra-hardness, toughness, low friction and chemical resistance when applied to components made from steel, alloy and other materials. Together with features such as its ability to coat internal surfaces, Hardide is proven to outperform competing technologies across many measures and is proven to offer dramatic cost savings through reduced downtime and extended part life. The coating is in widespread use in aggressive wear or chemical environments primarily in the oil and gas, flow control, aerospace and advanced engineering industries worldwide.

This information is provided by RNS

The company news service from the London Stock Exchange

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