PipeHawk PLC Contract award with RCR Industrial Flooring S.L.U (0157Z)

TIDMPIP

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 GBP1m 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 
 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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