(Alliance News) - PipeHawk PLC on Tuesday said its subsidiary QM Systems Ltd has won a contract to assemble a manufacturing and test facility for fire detection products.
PipeHawk is a Hampshire, England-based provider of technology for highways and for the automotive, rail and aerospace industries.
PipeHawk said QM Systems has won a project to deliver a manufacturing and testing facility for a customer of a "newly developed fire detection product."
"The project incorporates a range of the latest automation technologies to provide a bespoke and efficient solution to uniquely fit the customer's detailed product specifications," it added.
PipeHawk expects the project to begin immediately, with delivery expected on or around April 2024. The project is anticipated to deliver GBP820,000 in revenue, which will be recognised over the course of the project, with an initial upfront deposit and then industry standard milestone payments.
Chair Gordon Watt said: "I am delighted that QM has been awarded this project with a new client in an attractive new industry. The project will see QM develop a new long-term partnership and will further expand QM's building services client portfolio and system offering into a new area within building services itself."
Shares in the company were up 2.0% to 12.75 pence each in London on Tuesday afternoon.
By Sophie Rose, Alliance News reporter
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PipeHawk (PIP)