REG - PipeHawk PLC - £0.8 million contract award with JVM

PipehawkAnnouncement

18/10/2023 07:00

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RNS Number : 4391Q  PipeHawk PLC  18 October 2023

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.

 

18 October 2023

PipeHawk plc

("PipeHawk", "Company" or the "Group")

 

£0.8 million contract award with JVM Castings Limited

 

PipeHawk is pleased to announce that QM Systems Limited ("QM"), one of the
Group's principal subsidiaries, has been awarded a contract by JVM Castings
Limited ("JVM") to design, manufacture and supply a suite of automated
assembly systems for the insertion and assembly of Self Piercing and Clinch
("SPAC") Nuts into a range of automotive aluminium castings (the "Contract").

 

The Contract will make use of QM's latest automation process that, amongst
other benefits, combines assembly with component "Poka-Yoke" checking (mistake
proofing) to ensure assembled castings are manufactured correctly.

 

The Contract will generate approximately £800,000 of revenue for QM and is
due to be delivered within this current financial year.

 

JVM is based in Worcester and is the UK's largest aluminium diecasting
specialists.

 

Gordon Watt, Chairman of PipeHawk commented: "QM have formed a close
partnership with JVM over the last 10 years and are JVM's go to partner for
the supply of the majority of their assembly equipment. Over the years, QM has
provided JVM with a range of systems to assemble SPAC Nuts, SPAC Studs,
Rivnuts, Rivstuds as well as other components into a diverse range of castings
utilised within the manufacture of automobiles with final supply into a number
of original equipment manufacturer ("OEM") vehicle manufacturers. It has been
a pleasure to work closely with JVM over these last 10 years and it is a
testament to the service and support that QM offers its clients that JVM
continues to work closely with QM for its casting assembly needs year on year.

 

-Ends-

 

Enquiries:

 

 PipeHawk plc                                Tel. No. 01252 338 959

 Gordon Watt (Chairman)

 Allenby Capital Limited (Nomad and Broker)  Tel. No. 020 3328 5656

David Hart / Vivek Bhardwaj

 

For further information on the Company and its subsidiaries, please visit:
www.pipehawk.com (http://www.pipehawk.com/)

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