Hardide Adds to Orderbook

Hardide plc has secured approved supplier status and subsequent orders from Weatherford International Ltd. The orders will be fulfilled in both Hardide's UK and US manufacturing facilities.

Hardide's unique tungsten carbide-based component, which is proven to dramatically extend component life and reduce downtime by increasing wear and corrosion resistance, is being used by Weatherford in a number of downhole drilling and completion applications in harsh environments around the world. Hardide has been working with Weatherford for over a year on the engineering and testing of solutions to improve the performance of these parts and further applications are currently in test.

In the UK, the Company is supplying Hardide-coated bearing pins for use in expandable completion systems for Weatherford. Tests have proven that the Hardide-coated pins last up to four times longer than with the previous coating process.

Jim Murray-Smith, Chief Executive of Hardide plc said: "We are very pleased to add Weatherford to our expanding oil and gas customer portfolio in both the UK and US. It is a prime example of a large service company which is at the forefront of encouraging new technology and innovation, and is able to work constructively with companies like Hardide to develop solutions that optimise its product performance.

"The engineering and testing process is necessarily lengthy for components that play such a critical role in the exploration and production process. However, Hardide is at various stages of testing or supply with the top tier of global oilfield service companies in the UK and US which is testament to the positive results that the coating is delivering and the ever-growing interest we are generating.

Hardide offers an unprecedented combination of hardness, toughness, low friction and chemical resistance when applied to components made from steel, alloy and other materials. Together with features such as its ability to coat internal surfaces, it is proven to outperform alternative technologies across many measures. Oil and gas applications include cylinders, nozzles, pins & bushes, balls and seats, bores, valve components and drilling tools. Hardide's coating is widely used around the world in aggressive wear or chemical environments primarily in the oil and gas, valve, pump and aerospace industries.

Hardide Coatings Limited is a Hardide plc (AIM:HDD) company. The company has production plants in Bicester, Oxfordshire, UK and in Houston, Texas, USA


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