Award of Equipment Support Contract Extension from MoD

RNS Number : 6503S
TP Group PLC
21 March 2016                 

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."