Hardide shares soar on US standards approval

Shares in Hardide, the advanced surface coating technology developer, soared on Thursday as the company said it was now certified to coat aerospace, defence and space industry components in the US.

The Company's production facility in Martinsville, Virginia has been awarded the aerospace standard AS 9100D quality management standard by global certifying body, Lloyds Register, the company said in a statement.

It follows the award of the AS 9100D certification to its UK production site in Bicester, Oxfordshire in December 2017.

"This award strengthens Hardide USA's potential to generate significant new contracts with blue chip defence and aerospace manufacturers across the region," it added.

Chief executive Philip Kirkham said: "We are very proud to have achieved this exacting standard which opens up the North American aerospace market to us. We have recently added to our business development team in the US and now have a dedicated North America vice-president of business development who will concentrate on high-tech markets in the region, including aerospace. We are already involved with several major military and civil aerospace players with early stage tests and development programmes underway."

Hardide shares were up almost 7% to 2.02p at 1514 BST.