TP Group awarded new contract

(ShareCast News) - Specialist services and engineering group TP Group has been awarded a contract in the millions bracket from a new shipbuilding customer.The South East Asian based shipbuilding prime contractor awarded a £1.9m contract to the AIM listed company, for it to provide submarine life-support systems which would be built by TPG Maritime at its manufacturing and engineering centre in Portsmouth, over a two year period.The contract would further strengthen the company's presence in this strategically important market, the company said."We are very pleased to be working with this new South East Asian based tier-1 customer. The contract builds on TPG's longstanding successes in the region, as announced in prior years, and further strengthens our presence in this strategically important market", Phil Cartmell, chief executive officer of TPG, commented.