(Alliance News) - TP Group PLC said Tuesday it has secured a new order worth GBP1.0 million from the UK Ministry Of Defence to supply it with submarine oxygen generating devices.
The engineering services firm said this order is for a further 750 multi-purpose oxygen generators. TP Group added that these are supplemental to the company's other large atmosphere management systems, which it currently supplies to the Ministry of Defence and other global customers.
TP Group said these devices will be supplied to the Royal Navy during 2020 as part of the estimated GBP22 million framework contract with the Ministry of Defence, announced in 2017.
Back in April 2017, TP Group had secured a framework contract with the Ministry of Defence for the provision of eight combined oxygen generating systems and other support items to help upgrade Royal Navy submarines.
Phil Cartmell, chief executive officer, said: "We are very pleased to see a further significant order under the long-standing framework agreement between the Ministry of Defence and TP Group."
"This latest order highlights the enduring value of these arrangements and further illustrates how the group provides long-term support and ancillary solutions alongside major systems, to provide an all-round service to our key customers," Cartmell said.
TP Group shares were trading 3.5% higher in London at 7.71 pence each on Tuesday morning.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.