LONDON (Alliance News) - Electronic systems developer Pipehawk PLC on Tuesday said it has won a further contract with Dana UK Axle Ltd to provide a turnkey system for vehicle axle assembly at Dana's facility in Birmingham.
The new contract, worth over GBP400,000 and won by Pipehawk's QM Systems unit, follows on from a similar contract it won with Dana in December.
The new deal is due to be completed by the end of the second quarter of 2016, Pipehawk said.
Shares in the company were up 8.5% to 4.61 pence on the news, one of the best performers in the AIM All-Share. The stock had jumped to 5.10p at the open.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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PipeHawk (PIP)