Proactiveinvestors United Kingdom Hardide Plc https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Hardide Plc RSS feed en Sat, 20 Jul 2019 22:48:58 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Long-term opportunities in aerospace and power generation underpin steady Hardide ]]> https://www.proactiveinvestors.co.uk/companies/news/223683/long-term-opportunities-in-aerospace-and-power-generation-underpin-steady-hardide-223683.html Slow-burn is an accurate way to describe Hardide Plc (LON:HDD) in recent years but the pace might be about to quicken.

For example, the coatings specialist has just started to treat aerospace components for Airbus planes after an eight-year testing period.

WATCH: Turbine protection can be a game-changer for Hardide says boss Kirkham

That might sound a long time, but Phil Kirkham, Hardide’s chief executive, says it is a quick turnaround in the aerospace coatings business with anything up to 14 years the norm.

It’s a big opportunity he adds, but an even larger one might come from using its technology to stop water droplet damage on steam turbine blades used in power stations.

Tests are set to start shortly with French giant EDF and Kirkham points out that each turbine alone has hundreds of blades.

Coming on the back of record first-half revenues, Hardide is set for a transformational period he believes.

Core to the business is a coatings technology brought into the business by a Russian scientist in 2000 that increases the working life of components it is applied to by 3-5 times.

Hardide has plenty of patent protection, but Kirkham says the real skill is knowing how to apply it.

At the thickness of human hair, it has a unique range of properties particularly the ability to coat very complex shapes and internal surfaces of components.

Complex technology

That makes it different from traditional types of coatings in this field which can only “do the bits you can see, not the bits you can’t”.

 “It's is a complicated process of many variables that would be extremely difficult for anybody else even to attempt,” he adds.

Traditionally, Hardide has treated oil and gas equipment such as downhole tools and pumps and valves and other flow control equipment

Only this week, for example, the company announced £670,000 of orders to coat components for a US oil and gas multinational.

Aerospace through Airbus, however, is set to become an increasingly important part of the mix.

In May, wing parts coated with the Hardide-A product were selected for the Airbus A380 for the first time.

They replaced hard chrome plating on wing compression flap pads, as the chrome plating process has effectively now been banned by the European Union.

“Numerous other components for the Airbus range of aircraft are currently in the final stages of evaluation prior to approval,” said the interim statement including flight tests on an Airbus A321 for a maintenance and repair company.

Hardide is now using extensively its facility in Martinsville, Virginia, and the company is planning to relocate its UK plant to new and larger premises within Bicester over the next 12 months in a major upgrade that will double its capacity.

Aerospace revenue to rise

Kirkham expects in time that aerospace revenues will at least be as important to the company as oil and gas markets.

“Aerospace repair and overhaul maintenance is a very long-term business.

“Once you are approved then you are usually tuned into the life of the component or life of the aircraft platform - so typically 20, 30 or 40 years of flying.”

Having now been approved by Airbus there is also scope to work with other major aerospace groups.

Kirkham, though, is even more animated by the turbine opportunity where he believes Hardide has a solution to the serious problem of water droplet erosion.

Enormous opportunity

This sees small water drops impinging on the turbine blade when rotating at very high-speed causing damage to the surface, affecting the aerofoil profile and reducing the efficiency of the blade and the turbine.

Kirkham says Hardide has developed a coating that protects against corrosion and absorbs the stresses of these water droplets, which stops the degradation meaning potentially far fewer replacement blades are required.

The plan is for EDF to put some coated blades into a real power station for a live test early next year.

“The opportunities for us are absolutely enormous because there are hundreds of blades per turbine that would need coating.”

And there are many, many power stations around the world.

“It could be a game-changer for the business,” he says.

Order flow

New applications and customers for its coatings will also help smooth fluctuations in the order flow that have been an ongoing issue.

In the latest half-year, for instance, revenues rose by 9% to £2.35mln but would have been even better bar delays on one oil and gas order due to changes to the product spec.

As a result, Hardide cautioned revenues for the year will be at the lower end of expectations though the company expects broadly to break even on an underlying profit basis [EBITDA] over the second six months.

That compares to a first-half underlying deficit of £440,000.

Interim losses were £657,000 (£317,000).

The shares barely moved on the news and at a share price of 51.5p, the market cap is £24.5mln.

Admittedly that value is looking a fair way forward, but given the potential in both aerospace and power, that future looks healthily underpinned.

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Wed, 10 Jul 2019 14:01:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/223683/long-term-opportunities-in-aerospace-and-power-generation-underpin-steady-hardide-223683.html
<![CDATA[RNS press release - Contract Award ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190708070006_14139207/ Mon, 08 Jul 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190708070006_14139207/ <![CDATA[Media files - Turbine protection can be a game-changer for Hardide says boss Kirkham ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13970/turbine-protection-can-be-a-game-changer-for-hardide-says-boss-kirkham-13970.html Wed, 03 Jul 2019 10:50:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13970/turbine-protection-can-be-a-game-changer-for-hardide-says-boss-kirkham-13970.html <![CDATA[RNS press release - Exercise of Options and Director Shareholdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190628070007_14128139/ Fri, 28 Jun 2019 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190628070007_14128139/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190611170001_14107066/ Tue, 11 Jun 2019 17:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190611170001_14107066/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190514070005_14072404/ Tue, 14 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190514070005_14072404/ <![CDATA[RNS press release - Hardide Coating Extends Life of Turbine Blades ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190313070007_13999851/ Wed, 13 Mar 2019 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190313070007_13999851/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190307113710_13994237/ Thu, 07 Mar 2019 11:37:10 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190307113710_13994237/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190307113644_13994236/ Thu, 07 Mar 2019 11:36:44 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190307113644_13994236/ <![CDATA[RNS press release - Result of AGM and Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190304151601_13989481/ Mon, 04 Mar 2019 15:16:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190304151601_13989481/ <![CDATA[RNS press release - Fundraising & Share Consolidation ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190208070002_13962553/ Fri, 08 Feb 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20190208070002_13962553/ <![CDATA[RNS press release - Preliminary Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20181210070003_13896627/ Mon, 10 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20181210070003_13896627/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180919070004_13795795/ Wed, 19 Sep 2018 07:00:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180919070004_13795795/ <![CDATA[RNS press release - Funding Awarded for Two Major Aerospace Projects ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180822070006_13763767/ Wed, 22 Aug 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180822070006_13763767/ <![CDATA[RNS press release - Exercise of Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180820143501_13761727/ Mon, 20 Aug 2018 14:35:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180820143501_13761727/ <![CDATA[RNS press release - Hardide Coatings USA now aerospace ready ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180712070007_13714779/ Thu, 12 Jul 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180712070007_13714779/ <![CDATA[RNS press release - Investing for further growth in North America ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180709070005_13709626/ Mon, 09 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180709070005_13709626/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180704165238_13706072/ Wed, 04 Jul 2018 16:52:38 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180704165238_13706072/ <![CDATA[RNS press release - Exercise of Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180619151502_13685784/ Tue, 19 Jun 2018 15:15:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180619151502_13685784/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180530171001_13660464/ Wed, 30 May 2018 17:10:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180530171001_13660464/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180514070006_13638965/ Mon, 14 May 2018 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180514070006_13638965/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180509155305_13635156/ Wed, 09 May 2018 15:53:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180509155305_13635156/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180404070002_13590464/ Wed, 04 Apr 2018 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180404070002_13590464/ <![CDATA[RNS press release - Board Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180320070006_13572877/ Tue, 20 Mar 2018 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180320070006_13572877/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180222141914_13542881/ Thu, 22 Feb 2018 14:19:14 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180222141914_13542881/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180220133639_13539635/ Tue, 20 Feb 2018 13:36:39 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180220133639_13539635/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180219134501_13538184/ Mon, 19 Feb 2018 13:45:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180219134501_13538184/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180219070002_13537084/ Mon, 19 Feb 2018 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180219070002_13537084/ <![CDATA[RNS press release - Completion of Deferred Subscription ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180213094736_13531111/ Tue, 13 Feb 2018 09:47:36 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180213094736_13531111/ <![CDATA[RNS press release - Exercise of Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180123155606_13506723/ Tue, 23 Jan 2018 15:56:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20180123155606_13506723/ <![CDATA[RNS press release - Exercise of Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171211160956_13461287/ Mon, 11 Dec 2017 16:09:56 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171211160956_13461287/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171211070004_13459993/ Mon, 11 Dec 2017 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171211070004_13459993/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171103070004_13419197/ Fri, 03 Nov 2017 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171103070004_13419197/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171030111501_13413196/ Mon, 30 Oct 2017 11:15:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171030111501_13413196/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171030110953_13413182/ Mon, 30 Oct 2017 11:09:53 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171030110953_13413182/ <![CDATA[RNS press release - Fundraising ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171027070002_13410813/ Fri, 27 Oct 2017 07:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20171027070002_13410813/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170921121702_13371171/ Thu, 21 Sep 2017 12:17:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170921121702_13371171/ <![CDATA[RNS press release - Exercise of Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170713150812_13294556/ Thu, 13 Jul 2017 15:08:12 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170713150812_13294556/ <![CDATA[RNS press release - HARDIDE COATINGS GAINS NADCAP ACCREDITATION ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170627070005_13273822/ Tue, 27 Jun 2017 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170627070005_13273822/ <![CDATA[RNS press release - Contract Award ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170531080002_13243517/ Wed, 31 May 2017 08:00:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170531080002_13243517/ <![CDATA[RNS press release - Major Supply Agreement with Graco, Inc ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170522070010_13232756/ Mon, 22 May 2017 07:00:10 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170522070010_13232756/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170516070007_13226335/ Tue, 16 May 2017 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170516070007_13226335/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170424070009_13201184/ Mon, 24 Apr 2017 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170424070009_13201184/ <![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170406070009_13185384/ Thu, 06 Apr 2017 07:00:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170406070009_13185384/ <![CDATA[News - Hardide finally gets approval to become an Airbus supplier ]]> https://www.proactiveinvestors.co.uk/companies/news/175605/hardide-finally-gets-approval-to-become-an-airbus-supplier-175605.html The long, l-o-o-o-o-o-o-o-n-n-n-n-n-g wait for surface coating technology firm Hardide Plc (LON:HDD) to gain approved supplier status from Airbus Group is finally over.

The group’s main customers are in the hard hit oil and gas sector but since 2005 the company has been coating aerospace components and courting Airbus as a potential customer.

It announced on Wednesday that the final part of the approval process is complete, following technical qualification, as announced in December 2015, of the Hardide-A coating by Airbus as an alternative to hard chrome plating.

Airbus and its component suppliers are now able to place production orders with Hardide to coat aircraft components and the company is already in commercial discussions with several Airbus sites about the coating of specific components.  Nonetheless, the board does not expect there to be any material change to the revenue forecasts for this financial year.

Separately, Hardide said it continues to make good progress towards gaining the aerospace industry's Nadcap accreditation.

"Aerospace is a cornerstone of Hardide's growth strategy and today's announcement enables us to move significantly along that path," said Hardide’s chief executive, Philip Kirkham.

Shares in Hardide rose 12.4% to 1.04p on the news.

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Wed, 29 Mar 2017 12:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/175605/hardide-finally-gets-approval-to-become-an-airbus-supplier-175605.html
<![CDATA[RNS press release - Airbus Global Approved Supplier Status Gained ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170329070017_13175017/ Wed, 29 Mar 2017 07:00:17 +0100 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170329070017_13175017/ <![CDATA[RNS press release - Grant of Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170221164533_13134876/ Tue, 21 Feb 2017 16:45:33 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170221164533_13134876/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170220123655_13133150/ Mon, 20 Feb 2017 12:36:55 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170220123655_13133150/ <![CDATA[RNS press release - AGM Statement ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170220070007_13132253/ Mon, 20 Feb 2017 07:00:07 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20170220070007_13132253/ <![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20161212070011_013063060/ Mon, 12 Dec 2016 07:00:11 +0000 https://www.proactiveinvestors.co.uk/companies/rns/421/LSE20161212070011_013063060/