TP Group (AIM: TPG), the specialist services and engineering group, is pleased to announce that it has been awarded a contract worth approximately £16.9 million by a leading UK Defence company to provide advanced packaged equipment. The contract pricing remains subject to final verification by the MoD as part of their standard audit cycle.
Under this contract, TP Group will build a primary set of equipment to qualify and verify the system design, and then produce the first operational set. This work will start immediately at TP Group facilities across the UK and is expected to be completed in late 2021.
"We are very pleased to have reached this agreement and to continue our work on strategic defence programmes. This broad-scope project will be delivered by our combined Technology & Engineering and Consulting & Programme Services teams using resources at various locations in the UK. This demonstrates the value and breadth of the integrated Group to work in close partnership with our major customers."
For further information, please contact:
TP Group plc
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
Tel: 01753 285 810
Cenkos Securities plc
Mark Connelly / Steven Keys / Callum Davidson
Tel: 020 7397 8980
Jeremy Garcia / Fiona Henson / Charlie Neish
Tel: 020 7390 0230
Notes to Editors
TP Group designs and develops advanced technologies, engineers complex equipment and systems, and provides support throughout their operational life. The Company's shares have been traded on AIM since July 2001.