This announcement contains inside
information as stipulated under the Market Abuse Regulations (EU)
no. 596/2014 ("MAR"). With the publication of this announcement via
a Regulatory Information Service, this inside information is now
considered to be in the public domain.
11 December
2019
PipeHawk plc
(“PipeHawk” or the "Company")
Further major
contract award by Penso (UK) Ltd and trading update
The Company is pleased to announce that its subsidiary, QM
Systems, has been awarded a further contract by Penso UK Ltd
(“Penso”).
Following the successful installation of the Flava manufacturing
system (announced in January 2019),
QM Systems will provide Penso with an expansion to the system to
manufacture a larger platform vehicle. The project, worth
approximately £1 million, will start immediately and is due for
completion within the current financial year.
This contract caps a very strong first half of the current
financial year by QM Systems. In the period from 1 July 2019 to date (i.e. including the above
contract), QM Systems had an order intake of £3.3 million and
quotation activity continues to be buoyant.
Adien has also had a strong first half winning a number of
contracts assisting with the 5G Mast roll-out with a value of
several hundred thousand pounds and being awarded multi-year
framework agreements with two major whisky distillery groups to
survey all their sites.
Gordon Watt, Chairman of PipeHawk
commented, “The follow-on contract from Penso is fantastic news and
builds on the partnership that Penso and QM have established to
provide a market leading first of its kind in automated flexible
lightweight carbon fibre structures. We are very much looking
forward to continuing our journey with Penso over the coming
months. I am also very encouraged by the order intake to date
in this financial year at QM Systems and at Adien.”
Enquiries:
PipeHawk Plc
Gordon Watt (Chairman) |
Tel. No. 01252 338 959 |
Allenby Capital Limited (Nomad and
Broker)
David Worlidge / Asha Chotai |
Tel. No. 020 3328 5656 |
Notes to Editors
For further information on the Company and its
subsidiaries, please visit: www.pipehawk.com