PipeHawk PLC QM Systems contract with Cox Powertrain Limited (9129T)
July 06 2018 - 10:12AM
UK Regulatory
TIDMPIP
RNS Number : 9129T
PipeHawk PLC
06 July 2018
Prior to publication, the information contained within this
announcement was deemed by the Company to constitute inside
information as stipulated under the Market Abuse Regulations (EU)
No. 596/2014 ("MAR"). With the publication of this announcement,
this information is now considered to be in the public domain.
6 July 2018
PipeHawk plc
("PipeHawk" or the "Company")
QM Systems signs GBP1.6 million contract with Cox Powertrain
Limited
for Production System Manufacture
PipeHawk announces that its subsidiary, QM Systems, that it has
been selected as a partner to work with Cox Powertrain Limited
("Cox Powertrain") to develop a turnkey Production System for the
control and manufacture of a revolutionary new product in the
Marine Industry. The contract will start immediately and, combined
with an order received earlier this year for the initial stages of
the project, is worth in excess of GBP1.6 million and due for
delivery within this current financial year.
Cox Powertrain is a world-leading British designer and builder
of diesel engines for worldwide and multi-market applications. Cox
Powertrain's team of engineers has developed a ground-breaking
light weight diesel outboard engine, the CXO300, which is the most
powerful, professional diesel outboard engine ever developed. QM
Systems Ltd is a leading manufacturer of state of the art
manufacturing systems and test systems across all industries.
Gordon Watt, Chairman of PipeHawk Plc commented "This is
wonderful news for the start of our new financial year and further
demonstrates QM System's ability to continually expand with the
development of new partners into exciting industries. We are really
proud that we have been selected by such a prestigious client in
Cox Powertrain to become their partner of choice in this very
exciting project."
Mark Palethorpe, CFO of Cox Powertrain commented: "We seek out
the best partners for Cox Powertrain Limited, with the skills,
scope and reliability to support our ambitions. QM Systems is a
great match to partner with for innovation and help us achieve our
goal to build a world-class engine."
Enquiries:
PipeHawk Plc Tel. No. 01252 338 959
Gordon Watt (Chairman)
Allenby Capital Limited (Nomad and Broker) Tel. No. 020 3328 5656
David Worlidge / Asha Chotai
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END
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