Directorate Change

RNS Number : 2491E

Pressure Technologies PLC

08 February 2018

 

8 February 2018

 Pressure Technologies plc

("Pressure Technologies" or the "Group")

Directorate Change

Pressure Technologies (AIM: PRES), the specialist engineering Group today announces that Philip Cammerman, Non-Executive Director has indicated that he intends to retire from the Board at the end of March 2018.

John Hayward, Chief Executive Officer, said: "Phil has made a significant contribution to the Group during his nine years on the Board. His wise counsel has always been both thought provoking and supportive."

Alan Wilson, Non-Executive Chairman, said: "The Board would like to extend its sincere gratitude to Phil for his long-standing contribution to the development of the Group. We wish him all the very best in his retirement."

The Board do not currently intend to replace Mr Cammerman, however this will be kept under review. From 1 April 2018 the Remuneration Committee will be chaired by Alan Wilson.

The Group's Annual General Meeting is scheduled to take place on Tuesday 13 February 2018 at 11.00am at Chesterfield Special Cylinders, Meadowhall Road, Sheffield, South Yorkshire, S9 1BT. Under the Group's Articles of Association Mr Cammerman is due to stand for re-election and if the relevant resolution is passed he will continue to fulfil his duties as a Non-Executive until his retirement from the Board.

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive Officer Joanna Allen, Chief Financial Officer Keeley Clarke, Investor Relations	Tel: [phone] www.pressuretechnologies.com
Cantor Fitzgerald Europe (Nominated Adviser and Broker)	Tel: [phone]
Philip Davies / Will Goode

COMPANY DESCRIPTION

Company description - www.pressuretechnologies.com

With its head office in Sheffield, Pressure Technologies was founded on its leading market position as a designer and manufacturer of high-pressure components and systems serving the global energy, defence and industrial gases markets. Today it continues to serve those markets from a broader engineering base with specialist precision engineering businesses and has a worldwide presence in Alternative Energy as a global leader in biogas upgrading.

Pressure Technologies has four divisions, Precision Machined Components, Engineered Products, Cylinders and Alternative Energy, serving four main markets: oil and gas, defence, industrial gases and alternative energy.

Precision Machined Components - www.pt-pmc.com

●     Al-Met, Mid Glamorgan, acquired in 2010 www.almet.co.uk 

●     Roota Engineering, Rotherham, acquired in March 2014 www.roota.co.uk 

●     Quadscot, Glasgow, acquired in October 2014 www.quadscot.co.uk 

●     Martract Limited, Barton-on-Humber, acquired in December 2016 www.martract.co.uk 

Engineered Products

●     Hydratron, Manchester, acquired in 2010 www.hydratron.com

Cylinders

●     Chesterfield Special Cylinders, Sheffield, IPO cornerstone in 2007 and includes,  CSC Deutschland Gmbh, which is based in Dorsten, Germany and Chesterfield Special Cylinders Inc. which is based in Houston, USA www.chesterfieldcylinders.com 

Alternative Energy

●     Greenlane Biogas, Sheffield, UK; Vancouver, Canada and; Auckland, New Zealand acquired in October 2014 www.greenlanebiogas.com 

 

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