Pipehawk shares soar after new rail tie up

7th Oct 2011 10:31

Pipehawk, the Hampshire based engineering company, has announced a £400,000 deal with Knorr Bremse Rail Systems UK (KBRS).The contract win came from the QM Systems division of Pipehawk and will see the firm install testing and production facilities for KBRS.Gordon Watt, chairman of PipeHawk commented:"These project wins demonstrate further diversification into large scale infrastructure projects and expansion into the heavy rail industry. QM's order book is very healthy and prospects for the foreseeable future look very bright indeed".Pipehawk's share price rose 2.2p to 3.7p on news of the deal.BS