Contract Win

RNS Number : 4780I
TP Group PLC
31 August 2016

Contract win

TP Group (AIM: TPG), the specialist technology, engineering and managed solutions group, is pleased to announce it has signed a contract to supply a new variant of its existing carbon dioxide scrubber technology to ThyssenKrupp Marine Systems GmbH ('TKMS'), one of the leading system providers of non-nuclear submarines and high-end vessels. 

The initial contract with TKMS is worth a minimum of £1.65 million, with the potential for multiple further units.

The carbon dioxide scrubber system will be designed and built at the TPG Maritime facility in Portsmouth with delivery to TKMS scheduled for Q4 2017.

Phil Cartmell, Chief Executive of TP Group commented:

"We are delighted to have secured this contract with TKMS, a new European customer for TPG. It further underlines our market leading position in this area, and is a key addition to our growing customer base, where we now supply our systems to a significant number of global submarine manufacturers."