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LONDON (Alliance News) - Oil and gas engineering services company Plexus Holdings PLC on Tuesday said it has signed licensing agreement with two Russian oil and gas companies.
Plexus said it has signed deals with LLC Gusar Ltd and CJSC Konar for the rental, manufacture and servicing of Plexus' jack-up drilling wellhead exploration equipment in Russia.
Plexus said the deal, on which no financial details were disclosed, will boost its presence in the Russian market.
On Monday, Plexus had issued a profit warning, saying its financial results for the year to the end of June will be "very significantly below" market expectations.
Shares in Plexus were down 14% to 59.03 pence on Tuesday, having lost 41% on Monday. The stock set a new 52-week low of 58.88p Tuesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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