Hardide Coatings, Inc.

Hardide Coatings, Inc.

January 22, 2015 02:00 ET

Hardide Coatings Invests $7 Million in US Production Plant

RICHMOND, VIRGINIA--(Marketwired - Jan. 22, 2015) -

Editors Note: There is one photo associated with this press release.

Hardide Coatings, Inc., the United Kingdom-based provider of advanced surface coating technology, has today announced investment in a new Virginia manufacturing plant worth circa US$7 million. The investment will see Hardide Coatings expand provision of its range of specialist nanostructured coatings throughout North America.

The 26,000 square foot facility in Martinsville, Henry County, is planned to be operational in the fourth quarter of 2015 with up to 29 jobs being created in the first three years. The company produces a patented range of hard wearing coatings which significantly increase the life of critical metal parts operating in abrasive, erosive, corrosive and chemically aggressive environments. The new facility will service existing and new customers in the oil and gas, aerospace, flow control and advanced engineering markets.

Philip Kirkham, CEO of Hardide plc said: "Demand from customers in North America, including leading companies operating in oil and gas exploration and production, valve and pump manufacturing, nuclear, advanced engineering and aerospace industries, is developing well and a local production facility will significantly boost the business available to us."

The new facility is located within an Enterprise Zone in a state where more than 230 aerospace companies, the Commonwealth Center for Advanced Manufacturing and two Rolls-Royce facilities are based. It will house new chemical vapour deposition (CVD) coating reactors as well as the latest pre-treatment, inspection, quality assurance and finishing equipment.

"Martinsville, Virginia was chosen after a long and detailed evaluation of numerous locations in different states. We chose Virginia as it offers a positive business environment with a central location for the existing and projected customer base and it makes a compelling economic and business case," added Mr Kirkham.

Speaking about today's announcement, Governor McAuliffe said, "Creating jobs in the advanced manufacturing sector is critical as we work to build a new Virginia economy. I am thrilled to announce these new jobs, which pay well above the average prevailing wage for the region. I had the opportunity to meet with company officials last summer in the U.K. about this project, and we are honored to welcome Hardide Coatings to the Commonwealth's growing roster of international companies."

"This is a big win for rural Virginia as the region continues its economic rebound," said Maurice Jones, Virginia Secretary of Commerce and Trade. "Hardide Coatings is a growing global company, and this significant investment to expand its manufacturing presence to serve worldwide customers is a great testament to the strong workforce and infrastructure in place in Martinsville-Henry County and the Commonwealth as a whole."

Fit-out of the building and local recruitment is already underway. The new personnel will receive full training in the Hardide coatings' process at the company's UK headquarters before the North American facility becomes operational later this year.

The range of Hardide coatings are highly abrasion, erosion, corrosion and chemical resistant while also being tough, ductile and impact resistant. Applied by chemical vapour deposition (CVD), the process can also coat them to internal surfaces and complex shapes. The coatings technology is proven to offer dramatic improvements in component life, delivering cost savings to customers through reduced downtime and increased operational efficiency.

Hardide Coatings, Inc. is part of AIM listed Hardide plc (AIM:HDD) which is based in Bicester, Oxfordshire, UK.

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