TP Group receives orders worth £4m from Ministry of Defence
Engineering services company TP Group announced the receipt of new orders totalling around £4m from the Ministry of Defence on Tuesday, to supply it with oxygen generation and carbon dioxide removal devices.
The AIM-traded firm said the orders formed part of the £22m framework contract previously entered into between TP and the MoD, to manage equipment availability and provide spares for air purification systems, as it announced on 3 April 2017.
It said the devices would be supplied to the Royal Navy during the fourth quarter of 2020, and into 2021.
“We are very pleased to receive these orders from our long-term customer at the Ministry of Defence,” said chief executive officer Phil Cartmell.
“We have worked closely with all our customers through the recent Covid-19 outbreak to support their critical programmes and it is pleasing to see this result in orders such as this.”
At 1330 BST, shares in TP Group were up 2.27% at 6.75p.