Contract Award for submarine carbon dioxide removal systems
TP Group (AIM: TPG), the specialist technology, engineering and managed solutions group, is pleased to announce that it has been awarded a contract valued at c.£1.0 million from an existing long term customer based in South East Asia for the supply of a submarine carbon dioxide removal system.
The work will be undertaken by TPG's wholly owned subsidiary TPG Maritime at the Group's manufacturing and engineering base in Portsmouth over the next 18 months. This contact potentially forms part of a broader replacement programme.
Phil Cartmell, Chief Executive Officer of TPG commented:
"We are delighted to have secured this contract which further highlights our reputation in the sector. Alongside recent developments in the UK relating to the Trident nuclear programme, South East Asia represents another important growth market for our submarine operations and we look forward to continuing to extend our reach across the region."