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TP Group wins £0.9m submarine contract
AIM-listed engineer TP Group said it had won a £0.9m contract from an unnamed defence client to overhaul an atmosphere management system on an operational submarine.
The contract, which starts immediately, is part of a broader through-life support programme typical for equipment with a life span over 30 years, TP said in a statement.
TP makes air management control systems for submarines that helps make them harder to detect.
Chief executive Phil Cartmell said: "We are very pleased to kick off the new year with another contract to support in-service equipment in the submarine fleet."
"This is a reminder that our equipment is expected to perform its critical function over a prolonged period, and demonstrates the high technical standards and long term partnership that such equipment demands, and which continue to provide a strong foundation for our business."