Holding(s) in Company

RNS Number : 5549S

Pressure Technologies PLC

13 September 2010

 



Pressure Technologies plc (the "Company")

Holdings in Company

13 September 2010

The Company was notified on 10 September 2010 that further to the sale of 25,000 ordinary shares, Phil Catton holds 563,333 ordinary shares in the Company representing 4.97 per cent. of the Company's issued share capital.

For further information, please contact:

Pressure Technologies plc

John Hayward, Chief Executive

James Lister, Group Finance Director

Tel: [phone]

www.pressuretechnologies.co.uk

Fairfax IS PLC

Ewan Leggat/Katy Birkin

Tel: [phone]

Rawlings Financial PR Limited   

Catriona Valentine

Tel: [phone]

www.rawlingsfinancial.co.uk 

Company description:

Pressure Technologies is the holding company for Chesterfield Special Cylinders Limited ("CSC"). CSC designs, manufactures and offers retesting and refurbishment services for a range of speciality high-pressure, seamless steel gas cylinders for global energy and defence markets. The business has been conducted under the "Chesterfield" brand which is a long established name in the cylinders and specialised pressure vessel market.

Chesterfield BioGas ("CBG"), an operating division of Pressure Technologies, formed in November 2008 following the signing of a co-operation agreement with Greenlane  Biogas Limited, the world leader in biogas upgrading from raw biogas to vehicle quality fuel, gives Pressure Technologies exclusive rights to market Greenlane  equipment in the UK and Eire.  Chesterfield BioGas will provide turnkey solutions for the cleaning, storage and dispensing of biomethane, produced from waste water treatment and anaerobic digestion of organic waste.

Al-Met Limited ("Al-Met"), which was acquired by the Group in February 2010, is aniche manufacturer of specialised, precision engineered valve wear parts used in the oil and gas industries, based in Pontyclun, near Cardiff.  Al-Met's products are used in high-pressure choke and flow control valves, designed to regulate flow volumes in extremely demanding applications in the subsea and surface oil and gas industries.  The business, established in 1985, has developed a leading edge capability in precision machining carbides and superalloy matrix materials.  The ability to combine high alloy steels with tungsten carbide inserts and specialised coatings gives Al-Met its niche position with its customers, global wellhead and subsea equipment OEMs.

 

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