LONDON (Alliance News) - TP Group PLC said Thursday it has received two defence sector orders worth a total of GBP2.0 million from Babcock International Group PLC for the overhaul of submarine atmosphere control systems.
The work will be undertaken in Portsmouth over the next two years, it said.
"We are very pleased to secure further maintenance and repair work from Babcock. These orders further strengthen our order book in the aerospace & defence sector, and provide good visibility of both revenue and production activity at our Portsmouth facility for 2016 and beyond," said Chief Executive Officer Phil Cartmell in a statement.
Shares in TP Group were up 12% at 3.09 pence Thursday.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Babcock (BAB)
