REG - PipeHawk PLC - Contract award with RCR Industrial Flooring S.L.U

PipehawkAnnouncement

12/09/2022 07:00

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RNS Number : 0157Z  PipeHawk PLC  12 September 2022

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                        Tel. No. 01252 338 959

 Gordon Watt (Chairman)

 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 (http://www.pipehawk.com/) (http://www.pipehawk.com/)

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