TP Group hopeful as MoD signals possible intentions
Specialist technology, engineering and managed solutions company TP Group confirmed on Friday that the Ministry of Defence has issued a ‘Voluntary Ex-Ante Transparency Notice’, detailing its intention to negotiate a sole source contract with TPG Maritime.
FTSE AIM All-Share
729.38
16:54 14/11/24
Industrial Engineering
11,869.53
16:38 14/11/24
TP Group
2.20p
16:39 26/01/23
TPG Maritime is a wholly owned subsidiary of TP Group.
The AIM-traded firm said the notice was for the provision of a number of new combined oxygen generating systems and system upgrades for UK submarines.
“The contract, if awarded, is estimated to be worth circa £22.6m over approximately eight years, starting in 2017,” TP Group said in a statement.
“This announcement signifies the intention of the MoD to negotiate the aforementioned contract but does not constitute a firm order at this time,” it said.