Major Supply Agreement with Graco, Inc

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).

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For further information:

Hardide plc Philip Kirkham, CEO Jackie Robinson, Communications Manager	Tel: [phone]
finnCap Stuart Andrews /Henrik Persson/James Thompson	Tel: [phone]
IFC Advisory Graham Herring/Heather Armstrong	Tel: [phone]

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.

 

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