Haydale receives order for ceramic blanks for US cutting tools industry
Haydale, (AIM: HAYD), the global advanced materials group, is pleased to announce that, following commencement of commercial production of ceramic blanks in June, Haydale Ceramic Technologies LLC ("HCT"), based in South Carolina, US, has now received an order to the value of US$700,000.
This order is from a large US cutting tool manufacturer and follows a trial order of 33,000 ceramic blank units previously delivered by HCT and follows investment by Haydale in the blanks production facilities.
Additionally, HCT has received a commitment in principle from a Japanese cutting tool manufacturer which will launch in April 2020. This commitment is for 145,000 blanks units with a value of approximately US$600,000.
Following extensive customer trials, and with commercial production commenced, we are now expecting sales to grow in this area.
Tom Quantrille, President & CEO of Haydale Technologies Inc. in the United States, said: "Since production commenced in June this year, the team has worked closely with new and existing customers to ensure the product is of the highest quality. We are now able to produce high quality sintered ceramic blanks in industry expected quantities."
Keith Broadbent, Haydale CEO, said: "As Haydale takes a more commercial focus, it is great to see the reward from these two customers. We are looking forward to seeing significant growth in this area and receiving more blanks orders in the near term."
Haydale is a global technologies and materials group that facilitates the integration of graphene and other nanomaterials into the next generation of commercial technologies and industrial materials. With expertise in graphene, silicon carbide and other nanomaterials, Haydale is able to deliver improvements in electrical, thermal and mechanical properties, as well as toughness. Haydale has granted patents for its technologies in Europe, USA, Australia, Japan and China and operates from six sites in the UK, USA and the Far East.
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