UK technology company seeks to invest $5 million in US sales and manufacturing facility

Citation

(2005), "UK technology company seeks to invest $5 million in US sales and manufacturing facility", Anti-Corrosion Methods and Materials, Vol. 52 No. 5. https://doi.org/10.1108/acmm.2005.12852eab.018

UK technology company seeks to invest $5 million in US sales and manufacturing facility

UK technology company seeks to invest $5 million in US sales and manufacturing facility

Hardide plc, the provider of unique ultra-hard wear and corrosion resistant surface engineering technology to the international oil and gas industry, is seeking to invest $5 million (£2.7 million) in a sales and manufacturing facility which will employ up to 20 people in Houston, Texas over the next 24 months.

The announcement was made today at the Offshore Technology Conference (OTC) in Houston, Texas by UK Trade & Investment's Director of International Oil & Gas Business and Engineering, Mr Brian Gallagher.

Hardide, which listed on the AIM market of the London Stock Exchange in April 2005 with a market capitalisation of $25 million, is opening a sales office in Houston this week as a stepping stone to the larger manufacturing and processing facility. The latter will house two new state-of- the-art CVD (chemical vapour deposition) coating furnaces together with the necessary support equipment.

Chief Executive, Jim Murray-Smith, said: “There is strong demand from the oil and gas drilling and downhole sector for a high performance, cost-effective coating that will prolong component life and minimise downtime in extreme wear situations. Hardide has been proven to offer significant cost-savings across the supply chain”.

“A Houston facility will give us a launch-pad into the North American market and enable us to provide a cost- effective and efficient service. We are currently looking for premises of more than 20,000 sq.ft. and we will be recruiting local technicians. A technical team from the UK will set up the facility and train the local team”.

Hardide is the name given to the company's patented surface engineering technology which combines ultra- hardness, low friction and chemical resistance for use with steel, hard alloys and other materials. When applied to customer components the technology is proven to offer dramatic cost savings through reduced downtime and extended component life.

Hardide's customers are mainly in the oil and gas drilling, valve and pump sectors and include operators, multinational service companies and equipment manufacturers.

Mr Gallagher was accompanied on his visit to the Hardide stand (number 2380) at OTC today by John Weedon, Chairman of UK Trade & Investment's International Oil and Gas Business Advisory Board, and Judith Slater, UK Consul-General in Houston.

Mr Gallagher commented: “I am delighted to have the opportunity to announce Hardide's multi-million dollar investment in the US market. OTC is a key oil and gas exhibition, and the perfect platform to highlight Hardide's investment and their products. Hardide join the many hundreds of innovative, world-class UK companies, many of them SMEs like Hardide, with operations in the Houston area, contributing some 90,000 jobs to the US market, demonstrating the commitment of the UK to the US as a key trading partner”.

The Hardide coating process is performed in a CVD furnace and is applied to customer supplied components which are heated to between 500 and 6508 dependent on application. Once at the desired temperature, a controlled mixture of gases is pumped into the furnace. In the furnace chamber, a chemical reaction takes place between the gases which crystallises on the surface of the components producing a smooth layer of binder-free tungsten carbide with abrasion and chemical resistant characteristics. This process enables all parts of the component including “out-of-sight” surfaces to be covered. This unique feature enables complex components to be Hardide coated. Hardide operates three furnaces at its Oxfordshire headquarters and coating facility.

Hardide will be exhibiting Offshore Europe in Aberdeen, UK (6-9 September), stand number 1368.