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Haydale Graphene Industries inks US$4.58mln, three-year deal with Japanese customer

The new contract supersedes an original deal it had with Tateho Chemical Industries to supply silicon carbide whiskers
Deal done - the company has extended and expanded its current arrangement

Advanced materials specialist Haydale Graphene Industries PLC (LON:HAYD) said its US subsidiary has landed a US$4.58mln, three-year contract with Tateho Chemical Industries Co of Japan.

It supersedes an original deal it had with Tateho to supply silicon carbide whiskers used in the manufacture of ceramic cutting tools. Under the new arrangement, it will also provide ceramic blend products.

READ: Haydale Graphene Industries at a tipping point as technology collaborations increase

Tateho has signed a letter of intent to carry on buying materials for an additional three years after the expiry of the current agreement, the company said in a statement.

Haydale chief executive Ray Gibbs said of the new contract: “The additional revenue it will generate for the group is encouraging and also the novel ceramic blend offering to Tateho demonstrates our ability to meet our customers' changing needs."

The shares, up 18% in the year to date, rose a further 5% after the announcement to 185p. 

READ: Haydale Graphene Industries signs outline deal with Rogers Advanced Composites

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