Hunting is investing $ 5.0 million in Cumberland Additive Holdings LLC to gain access to the additive manufacturing sector

LONDON, 24th August 2021– (BUSINESS WIRE) – Hunting PLC (LSE: HTG), the international energy services group, today announced that it has acquired 5.0 million of the transaction. The parties have also agreed certain customary minority rights and obligations in connection with Hunting’s involvement in CAH, including representation on the board of directors of CAH.

Headquartered in Pflugerville, Texas, CAH provides design services and additive manufacturing of parts in metals and polymer materials using powder bed fusion technology. CAH has AS9100D and ITAR accreditations and supports customers in the aerospace, defense, aerospace, oil and gas, and energy sectors who require highly quality-assured components for operation in high-performance environments. CAH currently occupies 30,000 square feet at its Texas location. CAH is currently building its second facility in Pittsburgh, Pennsylvania, which will improve supply chain efficiency.

Investing in CAH gives Hunting access to the rapidly growing additive manufacturing sector, which is increasingly being adopted by many of the group’s current oil and gas customers, while also providing Hunting with the opportunity to develop new sectors that complement the group’s current customer profile.

Jim Johnson, Chief Executive of Hunting commented:

“Hunting’s investment in CAH is an important part of our strategy of gaining access to new manufacturing technologies that will be adopted by our current customers, but also offers new market and customer opportunities in sectors that complement our core competencies in precision engineering and highly quality-assured products Processes, including aerospace and defense. The group has been drawn to CAH’s materials and process engineering know-how and expertise, which we believe will complement our existing technology and manufacturing leadership in our selected focus sectors. We look forward to it look forward to building strong relationships with our existing companies in the years to come. “

CAH Chairman and Chief Investor Dawne Hickton added:

“Hunting’s investment will help CAH achieve its growth ambitions while opening up new customer opportunities through its global presence. “

Notes for editors:

About additive manufacturing

Additive Manufacturing (AM) describes processes and technologies that build 3D objects by adding material layer by layer with plastics, metals or other suitable materials. AM is particularly efficient for small batch production in order to minimize rejects.

Metal additive manufacturing benefits from complexly designed parts or components where lower weight is beneficial for the end use and can include automotive, aerospace, or medical components.

Via hunting PLC

Hunting PLC is an international energy service provider for the world’s leading upstream oil and gas companies. It was founded in 1874 and is a first class publicly traded company that trades on the London Stock Exchange. The company has corporate headquarters in Houston and is headquartered in London. In addition to the United Kingdom, the company has offices in China, Indonesia, Mexico, the Netherlands, Norway, Saudi Arabia, Singapore, the United Arab Emirates and the United States of America.

The Group reports in US dollars in four segments: Hunting Titan, North America, Europe, Middle East and Africa (“EMEA”) and Asia-Pacific.

Hunting PLC’s Legal Entity Identifier is 2138008S5FL78ITZRN66.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210824005098/en/

contacts

Hunting PLC
Tel: +44 (0) 20 7321 0123
Jim Johnson, managing director
Bruce Ferguson, Finance Director
Tarryn Riley, Investor Relations

Buchanan
Tel: +44 (0) 20 7466 5000
Ben Romney
Chris Judd

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