News blog
Hardide
- BY: Andrew Hore |
- POSTED: 21/08/2007 |
New EU legislation is creating potential markets for Hardide’s surface coatings.
EU REACH (Registration, Evaluation, Authorisation and Restrictions of Chemicals) environmental legislation means that aerospace companies are looking for alternative coatings to hard chrome. This provides an opportunity to win business in the aerospace sector, where other alternatives haven‘t worked as well as the aerospace companies hoped. Hardide is an approved supplier to BAE Systems and is working with Messier-Dowty.
Hardide is raising £1m to finance the development of the aerospace business. Boyce Group, an existing shareholder will lend £500,000 at base rate plus 2%. Boyce will also have an option to subscribe for £500,000 worth of shares at 12p each. The other £500,000 hasn’t been raised yet.
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