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PipeHawk subsidiary establishes new partnership with Mann and Hummel

Published: 10:00 11 May 2016 BST

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Pipehawk shares were up 16.6% at 3.5p

PipeHawk plc (LON:PIPE) shares gained advanced on Wednesday as its subsidiary QM Systems successfully completed its first large scale project for Mann and Hummel, and secured further work worth £400,000.

A new partnership has now been agreed between QM and the customer, Pipehawk said.

QM will now provide Mann and Hummel with production and test equipment for the foreseeable future, it added.

“This is fantastic news in the continued development of QM Systems business model,” said Gordon Watt, Pipehawk chairman.

“We take nothing for granted and we are honoured to be chosen by Mann and Hummel as their partner of choice.

“We work tirelessly to provide our clients with the best possible service and experience, we are extremely confident that Mann and Hummel will continue to be fully satisfied with the service that QM Systems provides as this partnership develops”.

On AIM, Pipehawk shares were up 0.5p, 16.6%, changing hands at 3.5p each.

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