07 September 2006
Press Release 7 September 2006
('Hardide' or the 'Company')
New US Patent Announcement
Adhesive Coating for Industrial Diamonds
Hardide plc (AIM:HDD), the provider of unique surface engineering technology, is
pleased to announce that it has been granted the US patent for a new tungsten
carbide adhesive and protective coating for industrial diamond crystals.
This development opens up a global multi-million dollar market for Hardide plc
in diamond tools for the oil and gas, mining and construction industries.
The non-porous Hardide coating offers an unprecedented combination of adhesive
and protective properties for diamond crystals which are used in drilling and
saw tools in global oil, gas, mining and construction applications. The new
coating enables the retention of diamonds in tool metal for longer; protects the
diamonds from aggressive metals used in tool manufacture which compromise their
performance, and strengthens diamonds by filling-in defects within the crystals.
By addressing these issues the new Hardide coating will offer significant cost
savings to drilling, mining and construction operations where tool durability
and performance are important and downtime for tool replacement is expensive.
Jim Murray-Smith, Chief Executive of Hardide plc, said: 'This notable
development is a result of our research and development strategy to ensure we
remain at the forefront of the next generation of ultra-high performance
coatings. The global diamond tool market has estimated annual sales of US$5
billion and is based largely in the oil and gas sector where we have a proven
track record and fast-growing customer base around the world. Our plant in
Houston, Texas opened on 1 September 2006 and is ideally located to capitalise
on the potential of this coating in the US oil and gas market.'
The Company has also been granted patents for the coating in China, Australia
and Russia and has patents pending in EU (Europatent), Canada and Korea.
The new coating has been in development for ten years and has been successfully
trialled with a major global energy industry company in the US.
Patent number: US 7,022,403 B1 - adhesive composite coating for diamond and
diamond-containing materials and method for producing said coating.
- Ends -
For further information:
Jim Murray Smith, Chief Executive Tel: +44 (0) 1869 353 830
Daniel Stewart & Company plc
Paul Shackleton, Corporate Finance Tel: +44 (0) 20 7 776 6550
Chris Lane / Laura Riascos de Castro Tel: +44 (0) 20 7398 7700
This information is provided by RNS
The company news service from the London Stock Exchange