Hardide plc (LON: HDD), the provider of advanced surface coating technology, has announced that it has signed a 10-year supply agreement with a major customer in the Aerospace sector for the coating of cargo door components.
Hardide’s advanced tungsten-carbide coatings are proven to provide superior erosion and wear performance, improving the operating life of the components when compared with competing coatings, whilst also providing a REACH compliant solution.
Customer-funded equipment modifications due to be largely completed in the first half of the financial year, together with subsequent tooling and initial production volumes are together expected to benefit current financial year revenues by at least £0.5m.
Thereafter, based on the customer’s anticipated build rates for the relevant aircraft, production revenues are expected to be within the range of £6m to £8m over the 10-year timeframe based on senior management expectations.
Matt Hamblin, Hardide CEO, commented “We are delighted with this additional work win, this news helps underpin our forecasts for profitable growth in the current financial year and further demonstrates the role our technology can play in sectors requiring advanced surface treatment solutions”.
