PipeHawk Plc Further major contract award by Penso and trading update
11 Diciembre 2019 - 09:37AM
UK Regulatory
TIDMPIP
This announcement contains inside information as stipulated under the Market
Abuse Regulations (EU) no. 596/2014 ("MAR"). With the publication of this
announcement via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
11 December 2019
PipeHawk plc
("PipeHawk" or the "Company")
Further major contract award by Penso (UK) Ltd and trading update
The Company is pleased to announce that its subsidiary, QM Systems, has been
awarded a further contract by Penso UK Ltd ("Penso").
Following the successful installation of the Flava manufacturing system
(announced in January 2019), QM Systems will provide Penso with an expansion to
the system to manufacture a larger platform vehicle. The project, worth
approximately GBP1 million, will start immediately and is due for completion
within the current financial year.
This contract caps a very strong first half of the current financial year by QM
Systems. In the period from 1 July 2019 to date (i.e. including the above
contract), QM Systems had an order intake of GBP3.3 million and quotation
activity continues to be buoyant.
Adien has also had a strong first half winning a number of contracts assisting
with the 5G Mast roll-out with a value of several hundred thousand pounds and
being awarded multi-year framework agreements with two major whisky distillery
groups to survey all their sites.
Gordon Watt, Chairman of PipeHawk commented, "The follow-on contract from Penso
is fantastic news and builds on the partnership that Penso and QM have
established to provide a market leading first of its kind in automated flexible
lightweight carbon fibre structures. We are very much looking forward to
continuing our journey with Penso over the coming months. I am also very
encouraged by the order intake to date in this financial year at QM Systems and
at Adien."
Enquiries:
PipeHawk Plc Tel. No. 01252 338 959
Gordon Watt (Chairman)
Allenby Capital Limited (Nomad and Broker) Tel. No. 020 3328 5656
David Worlidge / Asha Chotai
Notes to Editors
For further information on the Company and its subsidiaries, please visit:
www.pipehawk.com
END
(END) Dow Jones Newswires
December 11, 2019 10:37 ET (15:37 GMT)
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