Pressure Technologies Major Unit Gets GBP2M UK Naval Orders

LONDON (Dow Jones)--Pressure Technologies PLC (PRES.LN), the holding company for Chesterfield Special Cylinders Ltd, said Monday Chesterfield has won orders from BAE Systems PLC (BA.LN) to supply high pressure air cylinders for the fifth Astute Class submarine currently being built at Barrow-in-Furness and the two new aircraft carriers, Queen Elizabeth and Prince Charles. MAIN FACTS: -The contracts, which are worth over GBP2 million in total, are for the supply of forged steel high pressure cylinders. -The cylinders will be supplied during 2011. -Shares at 0705 GMT unchanged at 137.5 pence valuing the company at GBP15.58 million. -By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; ian.walker@dowjones.com (END) Dow Jones Newswires August 02, 2010 03:06 ET (07:06 GMT)