PipeHawk subsidiary awarded £0.75m contract

PipeHawk announced on Friday that an unnamed building materials company had awarded its subsidiary QM Systems a significant contract.

The AIM-traded firm said the contract, valued at £0.75m, involved the delivery of an assembly line for manufacturing flooring tile assemblies.

It said the project, expected to span around 10 months, would leverage QM Systems' expertise in component handling within the building services industry.

The bespoke assembly and handling system would be tailored to meet the specific needs of the customer.

“This is incredibly exciting news for QM and cements an already established partnership built over the last few years between the customer and QM Systems,” said chairman Gordon Watt.

At 1500 BST, shares in PipeHawk were up 3.33% at 7.75p.

Reporting by Josh White for Sharecast.com.