Hardide Coatings, provider of advanced surface coating technology, is pleased to announce that it has entered into a Strategic Supply Agreement with the General Electric Company Inc. (GE).
Hardide will supply coating to a component currently used by GE, in a deal worth $1.3million over the two years to February 2016. There is potential to extend the agreement to five years.
Development and testing work is also well-advanced on additional components which, if successful, will be added to the agreement. This would result in further minimum annual volumes and significant increased value to the partnership.
Philip Kirkham, CEO of Hardide plc said: “This is an exciting development that firmly embeds the Hardide coating technology in one of the world’s most respected advanced engineering companies. An excellent working relationship has built up with GE over the last 18 months and we continue to work closely together on other projects including opportunities for the Hardide technology in various other divisions of GE which we hope to capitalise on.”
Hardide Coatings develops, manufactures and applies nanotechnology tungsten carbide-based coatings to a wide range of engineering components. The company’s patented technology is unique in combining a mix of abrasion, erosion and corrosion resistant properties in one coating. When applied to metal components in aggressive environments, the technology is proven to offer dramatic improvements in component life resulting in cost savings through reduced downtime and increased operational efficiency.
Customers include leading companies operating in oil and gas exploration and production, valve and pump manufacturing, nuclear, advanced engineering and aerospace industries. The company is part of AIM listed Hardide plc (AIM:HDD).