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LONDON (Alliance News) - Surface coating technology company Hardide PLC on Tuesday said it has increased installed capacity at its UK manufacturing arm by around 50% in order to meet demand for its tungsten carbide-based coatings and briefly said it is planning a potential new production facility in North America.
Hardide said it has installed a third large capacity reactor at its Bicester plant in Oxfordshire in order to meet demand. It will also hire three staff as part of the investment programme for the factory.
The group also briefly said it at an advanced stage for a potential new production facility in North America.
"The installation of a third large capacity reactor at our plant in Bicester will enable us to process increased production volumes while maintaining our active research and development programme which feeds the pipeline of new applications and underpins the development of new Hardide coating technologies and applications," said Hardide Chief Executive Officer Philip Kirkham.
Hardide shares were down 3.1% to 1.72 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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