PipeHawk (LON:PIP) shares soared over 32% making it the second biggest London riser as it won a £500,000 plus vehicle assembly contract.
The deal for the electronic systems expert is with a subsidiary of Dana Holding Corporation.
The firm will deliver a turnkey system for the assembly of vehicle axles at Dana UK Axle’s Birmingham facility. This will involve a number of integrated elements including a press and a robotic weld system and is due for delivery by the end of the second quarter 2016.
PipeHawk chairman Gordon Watt said: "We have developed a good relationship with Dana and I am confident that Dana will become one of our larger clients.
"This is the first of the expected orders referred to in our recent shareholder presentation."