TP Group PLC ESA framework contract extension
24 Marzo 2020 - 8:00AM
RNS Non-Regulatory
TIDMTPG
TP Group PLC
24 March 2020
RNS Reach
24 March 2020
TP Group plc
("TP Group", "the "Company" or the "Group")
ESA framework contract extension
TP Group (AIM: TPG), the providers of mission-critical solutions
for a more secure world, announces that its subsidiary Sapienza
Consulting has been awarded an extension to its framework contract
with the European Space Agency ("ESA"). The framework agreement
will now run until the end of December 2022.
The contract was initiated 1 July 2017 to supply resources and
services to the European Space Technology Centre ("ESTEC") at
Nordwijk in the Netherlands. At the end of March 2020, the contract
will have generated approximately EUR31 million of revenue to the
business. This extension adds a further 30 months to the framework
agreement and is anticipated to run at a similar business volume
over that term.
Phil Cartmell, Chief Executive Officer of TP Group,
commented:
"The extension of this framework agreement is a welcome
confirmation of the future business profile of Sapienza Consulting
in the Netherlands, and it shows that under the current difficult
operating conditions, institutions and business can continue and
plan for the future. This award reflects the hard work and quality
service that has been provided by our team over the last three
years and positions us well to work with ESA on their exciting
portfolio of future space missions."
For further information, please contact:
TP Group plc Tel: 01753 285 810
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
www.tpgroup.uk.com
Cenkos Securities plc Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum
Davidson
www.cenkos.com
Vigo Communications Tel: 020 7390 0230
Jeremy Garcia / Charlie Neish /
Fiona Norman
www.vigocomms.com
Notes to Editors
TP Group delivers complex equipment, software and services for
mission-, business- and safety critical applications in defence,
space, intelligence & security and energy sectors. With more
than 400 people in 6 European countries, it serves global customers
through long-term contracts. The Group's shares have been traded on
AIM since July 2001.
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END
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