REG - PipeHawk PLC - New lease agreement for QM Systems Limited

PipehawkAnnouncement

13/01/2022 07:05

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RNS Number : 2765Y  PipeHawk PLC  13 January 2022

 

13 January 2022

 

PipeHawk plc

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

 

New lease agreement for QM Systems Limited

 

 

PipeHawk is pleased to announce that QM Systems Limited ("QM"), one of the
Group's principal subsidiaries, has signed a ten-year lease for a modern open
space building at Hartlebury Industrial Estate - the largest industrial estate
in Worcestershire, approximately seven miles north of Worcester (the "New
Premises") at an annual rental of £263,000 with a rent-free period.  The New
Premises comprise over 44,000 sq.ft. of useable space, over five times the
available floor space and approximately 80% additional office and commercial
space when compared with QM's existing premises.

 

The significant expansion is driven partly by a requirement for more floor
space for QM Systems Project Business and partly by QM's expansion into
Contract Manufacturing and New Product Introduction ("NPI").  The Ventive
Manufacturing Business Unit will initially occupy approximately 9,000 sq.ft.
and approximately 10,000 sq.ft.  has been earmarked for further contract
manufacturing opportunity which is at an advanced stage of negotiations. The
additional space provides the platform to facilitate significant growth within
QM over the next few years.

 

Gordon Watt, Chairman of PipeHawk, commented "This is a very exciting phase in
the development of QM, where we are able to retain all of the expert knowledge
within QM and move the business into a much more efficient, modern and
spacious working environment.  The New Premises will house our ongoing
project business to develop and manufacture automated manufacturing and test
systems, which when combined with our own proprietary MES technology provide a
leading edge No Fault Forward ("NFF") production environment together with our
expansion into new contract manufacturing.  Here we have already signed
contracts with two clients and are in advanced discussions with a third.  The
first of these is expected to commence production in June 2022.  In order to
facilitate the growth of our business, QM is expecting to increase its
workforce by approximately 70% over the next twelve months, providing
significant employment opportunities to the local area, Worcestershire and
surrounding counties".

 

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/)

 

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