Last checked at 12 Sep 2022 07:00
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
12 September 2022
PipeHawk plc
("PipeHawk", "Company" or the "Group")
Contract award to deliver a manufacturing system for a Floor Joint System
PipeHawk is pleased to announce that QM Systems Limited ("QM"), one of the Group's principal subsidiaries, has been awarded a contract (the "Contract") by RCR Flooring Products, the manufacturing division of RCR Industrial Flooring S.L.U. ("RCR") to deliver a manufacturing system for a floor jointing system.
The Contract will make use of the latest automation technology to provide a turnkey solution for the manufacture of a floor joint system.
RCR is an international group that offers integrated floor services ranging from design to construction.
The Contract will generate approximately £1m of revenue for QM with approximately one third of which will be paid immediately with the remainder paid over the duration of the Contract. It is expected that work will commence immediately and delivery is expected within the next 12 months.
Gordon Watt, Chairman of PipeHawk, commented: "This Contract further expands QM's offering in the fields of building construction, in particular groundwork solutions. We believe this Contract presents a great opportunity for QM to further develop its project-based business within the building services sector."
Enquiries:
PipeHawk Plc Gordon Watt (Chairman)
| Tel. No. 01252 338 959 |
Allenby Capital (Nomad and Broker) | Tel. No. 020 3328 5656 |
David Worlidge/Vivek Bhardwaj
Notes to Editors
For further information on the Company and its subsidiaries, please visit: www.pipehawk.com