PipeHawk PLC - Hampshire, England-based provider of technology for highways and for the automotive, rail and aerospace industries - Says that one of its subsidiaries, QM Systems, has signed a contract with Stannah UK Ltd to deliver a "bespoke fully automated welding system". Stannah builds and develops lift products, including stairlifts and passenger and good lifts.
The project is due for delivery in nine months time. According to PipeHawk, it will generate revenue of GBP700,000, half of which will accrue in the current financial year. Under the terms of the deal, QM Systems will help to create a wide variety of fully automated welded assemblies, thus enabling Stannah to reduce build time and improve first build quality.
Current stock price: 8.74 pence, up 9.2% in London on Monday morning
12-month change: down 39%
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.
PipeHawk (PIP)