PipeHawk PLC Contract to assemble an Aero E-Motor Component (3265C)

TIDMPIP

RNS Number : 3265C

PipeHawk PLC

10 October 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.

10 October 2022

PipeHawk plc

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

Contract award to assemble an Aero E-Motor Component Part

PipeHawk is pleased to announce that QM Systems Limited ("QM"), one of the Group's principal subsidiaries, has been awarded a project to deliver a manufacturing assembly system for assembling a rotor component that will be used in an Aerospace E-Motor.

The project entails a significant investment by a leading aerospace client into electric aero propulsion for light aircraft and will involve the fully automated assembly of a magnetized rotor assembly.

The project will launch immediately and has a value of approximately GBP1.6 million, which is to be delivered within the next 12 months.

Gordon Watt, Chairman of PipeHawk, commented: "The award of this project enables QM to continue to develop its projects business into New and Green Tech markets across a diverse range of industries. QM has a long-established trading history within the Aerospace Sector providing both assembly and test solutions utilised in jet engine manufacture. This project capitalises on QM's experience within Aerospace markets to develop systems with an environmentally friendly footprint.

Enquiries:

 
PipeHawk Plc                        Tel. No. 01252 
 Gordon Watt (Chairman)              338 959 
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

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October 10, 2022 05:12 ET (09:12 GMT)