LONDON (Alliance News) - Technology and engineering company TP Group PLC on Monday said the Ministry of Defence intends to award TP Group's subsidiary TPG Maritime with a sole source contract.
The contract is for an asset availability service relating to submarine air purification. It will be for an initial seven years with an optional three-year extension and is estimated to be worth GBP27.8 million.
TP Group anticipates the contract to begin in early 2017.
Shares in TP Group were trading up 14% at 3.99 pence on Monday afternoon.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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