Hardide: General Electric Agrees One Year Extension to Existing Pact
March 23 2015 - 5:16AM
Dow Jones News
LONDON--Advanced surface coating technology provider Hardide PLC
(HDD.LN) said Monday that General Electric Company Inc. has agreed
a one year extension to February 2017 of its existing two year
supply agreement.
This will provide an additional $0.7 million of guaranteed sales
to the company over the term of the contract, Hardide said.
The agreement, originally signed for a two year term effective
from March 2014, will now guarantee total sales of $2.0 million
over its three year term to February 2017 and remains extendable up
to five years.
Hardide shares at 0845 GMT up 5.5%, at 1.45 pence, valuing the
company at GBP19.4 million.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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