Update: Name change to TP Group and export win
Corac’s confirmation that shareholders have approved the name change to TP Group is a reflection on the changing nature of the group to a specialist engineering business. It was apt, therefore, that it announced earlier in the same week that it had won a £3.4m export contract from a South-East Asia shipbuilder. This provides further evidence that the group’s submarine atmosphere control products are a success both in the UK and in export markets. With the order due for delivery from 2016 to 2018, visibility in the Aerospace & Defence division is further enhanced and it supports our thesis that such long-term programmes provide a solid base to expand its activities in defence and beyond.
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