Hardide plc (LON:HDD), the provider of advanced surface coating technology, has today announced 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).
