25th Mar 2020 11:39
(Alliance News) - TP Group PLC said Tuesday it has won an extension to its framework contract with the European Space Agency through its subsidiary Sapienza Consulting, which will now run until the end of December 2022.
The contract was first entered in July 2017, for the supply of resources and services to the European Space Technology Centre at Nordwijk in the Netherlands.
By the end of March, the contract will have generated EUR31 million in revenue for the engineering services firm.
"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," said Chief Executive Officer Phil Cartmell.
Shares in TP Group were down 1.0% at 4.80 pence on Wednesday in London.
By Dayo Laniyan; [email protected]
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