TP Group wins £1.5m contract with GE Oil & Gas

(ShareCast News) - AIM-listed specialist services and engineering company TP Group has been awarded a contract valued at around £1.5m by GE Oil & Gas within the nuclear sector.The contract will begin immediately and will be delivered by TP Group subsidiary TPG Engineering from its facility in Dukinfield, Greater Manchester over the next two years.TP Group is investing in updating its Dukinfield facility to deliver this contract by enhancing manufacturing capabilities and streamlining processes.In addition, the company will recruit engineers and technicians in the north-west of England to support this project and other similar work.Chief executive Phil Cartmell said: "We are delighted to have been selected by GE for this project. It represents a major step forward in the growth of the company as a major industrial supplier in the north west of England."This award demonstrates how the wider TP Group can apply its breadth of experience and expertise to work with global customers on strategic programmes. We believe that securing this contract also positions us well for further complex engineering opportunities in conventional and nuclear power, in defence and other sectors."At 1130 GMT, TP shares were up 3% to 5.15p.