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Hardide touts faster recovery amid rising oil prices
StockMarketWire.com
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Engineering components maker Hardide said it expected a recovery in demand, particularly from the oil and gas sector, to accelerate in second half of 2021, underpinned by a rise in oil prices.
Aerospace business from Airbus, while delayed due to the effects of COVID-19, was expected to commence in late 2021. 'The accreditation of equipment and production processes at the new site is on schedule and due to be completed in late spring/early summer of 2021, ' the company said.
'As expected, trading remains largely stable around the same levels experienced in the second half of last year, when the effects of the COVID-19 pandemic impacted our target market sectors,' it added.
Looking ahead, the company said it retains its positive outlook and expectations that demand will return and continue on the upward trajectory that was established before the pandemic. Story provided by StockMarketWire.com
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