Tekmar Group plc ( (GB:TGP) ) just unveiled an update.
Tekmar Group plc has reached a commercial settlement with a customer concerning legacy defect notifications related to abrasion issues in cable protection systems at offshore wind farms. The settlement, which does not admit liability or defect, is fully covered by insurance and has no cash impact on the company. This resolution is part of Tekmar’s ongoing efforts to address historical issues while maintaining strong industry relationships and focusing on business growth.
More about Tekmar Group plc
Tekmar Group plc is a leading provider of technology and services for the global offshore energy markets, focusing on engineering solutions that support and protect offshore wind farms and other offshore energy assets. With nearly 40 years of experience, the company offers a range of services including geotechnical design, subsea protection technology, and bespoke equipment design. Headquartered in Newton Aycliffe, UK, Tekmar has a global presence with offices and partnerships across Europe, Africa, the Middle East, Asia Pacific, and North America.
YTD Price Performance: -8.00%
Average Trading Volume: 318,284
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £8.32M
For a thorough assessment of TGP stock, go to TipRanks’ Stock Analysis page.