TIDMHAYD
RNS Number : 4847Z
Haydale Graphene Industries PLC
15 March 2017
The information contained within this announcement is deemed by
the Group to constitute inside information as stipulated under the
Market Abuse Regulations (EU) No. 596/2014 ("MAR"). Upon the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
For immediate release 15 March 2017
Haydale Graphene Industries plc
('Haydale' or the 'Group')
Four-year supply agreement with global industrial
manufacturer
Haydale Graphene Industries plc (AIM: HAYD), the global
nanomaterials group, is pleased to announce that its subsidiary,
Advanced Composite Materials LLC, ("ACM"), has entered into a
four-year agreement ("the Agreement") to supply Silicon Carbide
("SiC") micro-fibre to a global industrial manufacturer of tooling
and wear-resistant solutions ("the Customer"). This sole supply
Agreement has a potential sales value of over US$2.6 million over
the initial four year term with first orders to be delivered in the
final quarter of this financial year. The Agreement has a minimum
annual order quantity which the Board expects will equate to an
average annual revenue of approximately US$600,000 (subject to the
terms and conditions of the Agreement being met).
Following a period of stringent testing, the Haydale SiC fibre
has been approved for use in the production of SiC whisker
reinforced (hard edged) cutting tools. There is considerable demand
for SiC whisker reinforced cutting tools which are used extensively
across a range of industries and more specifically, for the
production, of land based turbines and jet engine fan blades. This
Agreement marks a significant step forward for ACM, which is also
now proactively selling Haydale's range of graphene enhanced
composites, 3D printing filaments and additives into the North
American market. ACM was acquired by Haydale in September 2016.
Commenting on the agreement, Ray Gibbs, CEO of Haydale, said:
"We took the decision last year to invest in the USA through
Haydale Technologies' acquisition of a speciality materials
business, ACM. We are delighted with the integration of ACM within
the Group and especially the volume of samples of graphene, silicon
carbide and a hybrid combination of both we have shipped to major
US companies as well as certain targets in the Far East. Feedback
has been very encouraging and positive. Our focus is to support the
co-development of new materials with these companies and bring them
to market."
Commenting on the Agreement, Trevor Rudderham, CEO of Haydale
Technologies, Inc. said: "We have made great progress over the past
four months since our acquisition of ACM. We have solidified
existing contracts and have now started winning new sales accounts
such as this one asking for deliveries in the next quarter. This
demonstrates our focus on building long term business partnerships
with best in class corporations. As we continue to integrate all of
the products and services Haydale offers into the US, we are
confident of achieving continued success."
Further terms of the Agreement
The Agreement contains customary termination provisions
including in the event that the customer ceases production of
whisker reinforced ceramics, the customer shall have the right to
terminate the Agreement and 50 per cent. of the agreed price for
the annual minimum order quantity for the remainder of the four
year initial term would remain payable to ACM. The Agreement may
also be renewed for an additional two year period subsequent to
expiry of the initial four year term.
- Ends -
For further information:
Haydale Graphene Industries
plc
Ray Gibbs, Chief Executive Tel: +44 (0) 1269 842
Officer 946
Matt Wood, Finance Director www.haydale.com
Trevor Phillips, Head
of Communications
Cairn Financial Advisers LLP (Nominated
Adviser)
Tony Rawlinson / Emma Earl Tel: +44 (0) 20 7213
0880
Cantor Fitzgerald Europe (Broker)
David Foreman / Will Goode (Corporate Finance) Tel: +44 (0) 20 7894
7000
David Banks / Mark Westcott (Sales)
Media enquiries:
Buchanan
Henry Harrison-Topham / Jamie Tel: +44 (0) 20 7466 5000
Hooper
haydale@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Haydale is a global technologies and materials group that
facilitates the integration of nanomaterials into the next
generation of commercial technologies and industrial materials.
With expertise in graphene, silicon carbide and other
nanomaterials, Haydale is able to deliver improvements in
electrical, thermal and mechanical properties, as well as
toughness. Haydale has granted patents for its technologies in
Europe, USA and China and operates from four facilities in the UK,
USA and the Far East.
For more information, please visit:
www.haydale.com
Twitter: @haydalegraphene
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "will" or the negative of those, variations or
comparable expressions, including references to assumptions. These
forward looking statements are not based on historical facts but
rather on the Directors' current expectations and assumptions
regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the
amount, nature and sources of funding thereof), competitive
advantages, business prospects and opportunities. Such forward
looking statements re ect the Directors' current beliefs and
assumptions and are based on information currently available to the
Directors.
A number of factors could cause actual results to differ
materially from the results discussed in the forward looking
statements including risks associated with vulnerability to general
economic and business conditions, competition, environmental and
other regulatory changes, actions by governmental authorities, the
availability of capital markets, reliance on key personnel,
uninsured and underinsured losses and other factors, many of which
are beyond the control of the Company. Although any forward looking
statements contained in this announcement are based upon what the
Directors believe to be reasonable assumptions, the Company cannot
assure investors that actual results will be consistent with such
forward looking statements. Accordingly, readers are cautioned not
to place undue reliance on forward looking statements. Subject to
any continuing obligations under applicable law or any relevant AIM
Rule requirements, in providing this information the Company does
not undertake any obligation to publicly update or revise any of
the forward looking statements or to advise of any change in
events, conditions or circumstances on which any such statement is
based.
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGRDBGDXIUBBGRS
(END) Dow Jones Newswires
March 15, 2017 03:01 ET (07:01 GMT)
Haydale Graphene Industr... (LSE:HAYD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Haydale Graphene Industr... (LSE:HAYD)
Historical Stock Chart
From Apr 2023 to Apr 2024
