PipeHawk PLC £0.7 million contract award with Stannah UK Ltd

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 publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

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

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