PipeHawk shares surge on new contract with Isoclad

PipeHawk announced on Tuesday that its wholly-owned subsidiary QM Systems has been awarded a contract to provide a “state of the art” complete manufacturing facility to Isoclad, for the manufacture of specialist clad panels for its ‘Customclad’ service.

The AIM-traded firm described Isoclad as one of the UK's largest independent composite panel manufacturers, with the Customclad service developed to meet a growing requirement for customised panels across the data, storage and modular build fields.

It said the project, which was worth about £1.7m, would start immediately, and was due for completion within the current financial year.

“This is excellent news and demonstrates how the diverse nature of QM Systems's portfolio of partners and unique skill set has enabled it to navigate the difficult conditions experienced in light of the current Covid-19 crisis, and continues to provide innovation driven manufacturing solutions,” said chairman Gordon Watt.

“QM Systems is proud to be the partner of choice for Customclad and we look forward to working closely together going forward.”

At 1329 BST, shares in PipeHawk were up 41.47% at 6.72p.