Contract Update

RNS Number : 4201G
TP Group PLC
05 August 2016

Contract update

TP Group (AIM: TPG), the specialist technology, engineering and managed solutions group, today confirms that the UK Ministry of Defence (MoD) has issued a Voluntary Ex-Ante Transparency Notice detailing its intention to negotiate a sole source contract with TPG Maritime, a wholly owned subsidiary of TP Group, for the provision of a number of Combined Oxygen Generating Systems (COGS) and COGS system upgrades for UK submarines.  

The contract, if awarded, is estimated to be worth circa £22.6 million over approximately 8 years, starting in 2017. This announcement signifies the intention of the MoD to negotiate the aforementioned contract but does not constitute a firm order at this time.