21 Mar 2016 07:00
21 March 2016
TP Group plc
("TP Group" or the "Group")
Award of Equipment Support Contract Extension from MoD
TP Group (AIM: TPG), the specialist technology, engineering and managed solutions group, is pleased to announce it has been awarded an extension to the Submarine Air Purification equipment support contract by the UK Ministry of Defence ('MoD').
TP Group has been providing equipment support for the Submarine Air Purification units for 10 years. The contract covers the provision of equipment support services and spare parts to atmosphere control systems on board the Royal Navy submarine fleet.
The contract extension, which is effective immediately and is for a further 12 months, is valued at an estimated £1.5 million over the period.
Phil Cartmell, Chief Executive of TP Group commented:
"We are delighted to have received an extension to our existing services contract from the MoD. It provides validation of the high quality of the service we deliver and enables TP Group to provide continuity of service to this strategic programme. The contract further supports the Group's strategy of providing integrated services and through life support to complex equipment in critical applications.
"Today's extension also provides the Group with greater visibility of long-term revenues and strengthens the position of our Maritime business within the global submarine equipment supply and support market."
For further information please contact:
TP Group Plc |
|
Phil Cartmell, Chief Executive Officer Derren Stroud, Chief Financial Officer | 01753 285 810
|
www.tpgroup.uk.com
|
|
Cenkos |
|
Stephen Keys / Mark Connelly www.cenkos.com
| 020 7397 8980 |
Vigo Communications |
|
Jeremy Garcia / Fiona Henson | 020 7830 9700 |
www.vigocomms.com |
|
NOTES TO EDITORS
TP Group is a group of innovative UK based engineering companies, supplying technologies and support to global Aerospace & Defence and Energy & Process Industries markets. The Group designs and develops advanced technologies; engineers complex equipment and systems; and provides support throughout their operational life. TP Group shares have been traded on the London Alternative Investment Market (AIM) since July 2001.