TP Group and Naval Group agree framework for future work

RNS Number : 6218Q

TP Group PLC

07 June 2018

TP Group and Naval Group agree framework for future work

TP Group (AIM: TPG), the specialist services and engineering group, is pleased to announce it has signed a five-year framework agreement ("the Agreement") with Naval Group, the French defence prime contractor responsible for building submarines and surface ships for the French navy and other international customers.

The Agreement builds upon past work, and seeks to formalise the working arrangements between the two companies. In addition, the Agreement also sets out standard terms of business that will enable TP Group to respond quickly to Naval Group requirements.

The Agreement is effective immediately and will cover work on atmosphere management systems on-board surface ships and submarines in the naval defence industry.

Phil Cartmell, Chief Executive of TP Group commented:

"This is an excellent step forward with our French customer, which enhances our working relationships outside the UK and sets the tone for future collaborations with Naval Group.  In addition, this Agreement will enable us to align with their business and respond quickly and effectively to their requirements."

"We look forward to continuing to build on a very fruitful relationship over the next five years and beyond."