REG - PipeHawk PLC - £0.7 million contract award with Stannah UK Ltd

PipehawkAnnouncement

29/01/2024 07:00

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RNS Number : 1172B  PipeHawk PLC  29 January 2024

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
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29 January 2024

PipeHawk plc

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

 

£0.7 million contract award with Stannah UK Ltd

 

PipeHawk is pleased to announce that QM Systems, a subsidiary of PipeHawk plc,
has signed a contract with Stannah UK Ltd ("Stannah") to deliver a bespoke
fully automated welding system.

 

The project, which is due to be delivered in nine months, will generate
revenue of approximately £0.7m, half of which will accrue in the current
financial year.

 

The project will see the combination of robotic welding and automatic variant
setup to create a wide variety of fully automated welded assemblies. These
will enable Stannah to reduce build time and improve first build quality, thus
significantly increasing its output over time.

 

 

Gordon Watt, Chairman of PipeHawk commented: "This is fantastic news and
further cements QM's growth of its automated robotic welding division. This
business really does continue to go from strength to strength. QM has been
working with Stannah for a number of months to develop a solution to a
challenging automated welding requirement. By adopting a collaborative
approach, Stannah and QM have developed a technical solution that provides
Stannah with the bespoke fully automated solution it requires. We look forward
to working closely with Stannah over the coming months to deliver a great
solution to this complex automated requirement."

 

-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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