The information contained within this
announcement is deemed by Hardide to constitute inside information
pursuant to Article 7 of EU Regulation 596/2014 as it forms part of
UK domestic law by virtue of the European Union (Withdrawal) Act
2018 as amended.
22 May 2024
Hardide plc
("Hardide", "the
Group" or "the Company")
Announcement of new Chief Executive Officer ("CEO")
Hardide plc, the provider of
advanced surface treatment solutions, is pleased to announce that
it has appointed Matthew (Matt) Hamblin, currently a non-executive
director of the Company, as its new permanent CEO, effective from 3
June 2024.
Steve Paul, who is currently serving
as interim CEO, will continue to work closely alongside Matt in a
sales and business development capacity.
Until early 2023 Matt was Chief
Executive Officer at Keronite, an advanced coatings and surface
treatment company, where he led its growth into profitability and
its subsequent sale to the Curtiss-Wright Corporation in November
2022. Matt has prior experience in a variety of sales and
commercial leadership roles, including most recently as Commercial
Vice President of Nyobolt, a high-performance battery and charging
technology company.
Andrew Magson, Non-Executive Chair,
commented:
"We are delighted that Matt is to
become Hardide's new CEO. His leadership and commercial experience
and deep understanding of the coatings and surface treatment sector
is directly relevant to the realisation of Hardide's growth
strategy.
We are extremely grateful to Steve
Paul for his incisive leadership of the Group on an interim basis
over the last four months during which time our new enhanced
components selling strategy has been launched and Hardide's trading
performance has improved significantly. We are very fortunate that
Steve will now continue to work with Hardide and support Matt in a
sales and business development capacity."
Matt Hamblin commented:
"I am very excited by the
opportunity to lead the team at Hardide and to drive the growth and
evolution of the business. Working for the past six months in a
non-executive capacity has strengthened my belief that combining
the excellent technical and engineering foundations of the Company
with a refreshed commercial vision will deliver profitable growth
for Hardide going forward. I look forward to working with Steve to
grow Hardide's new enhanced components offering, alongside a
refreshed focus on developing existing customers where Hardide
provides a service, as well as developing opportunities within new
markets and applications through a new solution based selling
approach."
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Enquiries:
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Hardide plc
Andrew Magson, Non-Executive
Chair
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Tel: +44
(0) 1869 353 830
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IFC
Advisory
Graham Herring
Tim Metcalfe
Florence Chandler
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Tel: +44
(0) 20 3934 6630
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Cavendish Capital Markets Ltd - Nominated Adviser and Joint
Broker
Henrik Persson/ Abigail Kelly
(Corporate Finance)
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Tel: +44
(0) 2072 200 500
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Allenby Capital - Joint Broker
Tony Quirke/ Joscelin Pinnington -
Sales and Corporate Broking
Jeremy Porter/ Dan Dearden-Williams
- Corporate Finance
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Tel: +44
(0) 20 3328 5656
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Notes to editors:
www.hardide.com
Hardide develops, manufactures and
applies advanced technology tungsten carbide/tungsten metal matrix
coatings to a wide range of engineering components. Its patented
technology is unique in combining in one material, a mix of
toughness and resistance to abrasion, erosion and corrosion;
together with the ability to coat accurately interior surfaces and
complex geometries. The material is proven to offer dramatic
improvements in component life, particularly when applied to
components that operate in very aggressive environments. This
results in cost savings through reduced downtime and increased
operational efficiency as well as a reduced carbon footprint.
Customers include leading companies operating in the energy
sectors, valve and pump manufacturing, industrial gas turbine,
precision engineering and aerospace industries.