02 May 2006
Press Release 2 May 2006
('Hardide' or 'the Company')
Update on US manufacturing facility
Hardide plc (AIM:HDD), the provider of unique surface engineering technology, is
pleased to give the following update on its US manufacturing facility in
Hardide has now signed a leasehold agreement for its first US coatings facility
and the purpose built 17,000 sq. ft. factory is now being equipped to the
Company's specifications in Train Court, Northwest Houston. The development of
the Houston facility represents a £2.9 million investment over the next 24
months which will be funded out of cash reserves.
The new factory will initially employ ten, locally recruited, staff with a
further 30 employees projected within two years. Train Court will initially
house one state-of-the-art CVD (chemical vapour deposition) vacuum furnace
together with pre-treatment, inspection, quality assurance and finishing support
equipment. Plant installation and commissioning is due to take place over summer
2006. The new facility will be operational from 1 October 2006.
Jim Murray-Smith, Chief Executive, said: 'We have made excellent progress with
Hardide's new manufacturing facility in Houston. By setting up Hardide in
Houston it means we can enhance and expand our services to our current US
customers, as well as develop the huge amount of interest that has been shown in
our technology by new customers in the last twelve months.
'Houston is the perfect location for servicing the oil and gas market and is
also ideally located for our other key sectors including aerospace and valves.'
- Ends -
For further information:
Jim Murray Smith, Chief Executive Tel: +44 (0) 1869 353 830
Chris Lane / Katherine Murphy Tel: +44 (0) 20 7398 7700
Notes to editors
Hardide provides and applies tungsten carbide coatings to a wide range of
engineering components. The Company's patented technology is unique in that it
combines both abrasion and corrosion resistant properties in one coating. When
applied to components, the technology is proven to offer dramatic cost savings
through reduced downtime and extended component life. Customers include leading
companies operating in oil and gas exploration and production, valve and pumps
manufacturing and general engineering.
Train Court, one of Houston's fastest growing industrial areas, is located at
the hub of the Northwest Houston area, the perimeter of Houston's Energy
Corridor, just south of the intersection of the Sam Houston Tollway (Beltway 8)
and the Hardy Toll Road. It is easily accessed from throughout the city via all
of its major thoroughfares (Interstate Highways 10, 45 & 59, and Highway 290)
and Bush Intercontinental Airport.
Further information can be found at: www.hardide.com
This information is provided by RNS
The company news service from the London Stock Exchange