TPG.L Regulatory News (TPG)

6 December 2016

This announcement contains inside information

TP Group plc

 ("TP Group" or the "Company")

Contract Award

TPG Engineering Contract with GE Oil & Gas

TP Group (AIM: TPG), the specialist services and engineering group, announces that its subsidiary TPG Engineering has been awarded a contract by GE Oil & Gas within the nuclear sector.

Valued at c.£1.5m, the contract commences immediately and will be delivered by TPG Engineering from its facility at 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 be recruiting engineers and technicians in the north-west of England to support this project and other similar work.

Phil Cartmell, Chief Executive of TP Group, commented: 

"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."

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Notes to Editors

TP Group is a group of innovative UK based engineering companies, supplying technologies and support to global markets. TP Group designs and develops advanced technologies, engineers complex equipment and systems, and provides support throughout their operational life. The Company's shares have been traded on AIM since July 2001.