Pressure Tech Regulatory News (PRES)

6 Oct 2008 07:00



6 October 2008

Pre-close Trading Update

Pressure Technologies plc ("Pressure Technologies" or the "Company"), the designer, manufacturer and retester of speciality high pressure, seamless steel gas cylinders for the global energy and defence markets, is pleased to announce that it has experienced stronger than expected trading in its fourth quarter. The change in the year to fixed summer holidays with a two week factory shutdown in August did not have the expected impact on output and allowed a number of short term opportunities to be exploited.

Consequently the results for the full year ending 27 September 2008 are anticipated to be ahead of market expectations. Market conditions remain favourable across all our markets.

The preliminary results are expected to be announced in the week commencing 8 December.

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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.

Based at Meadowhall, Sheffield, the Group's vision is to grow the business through a mixture of organic growth, diversification and the acquisition of complementary businesses to achieve a £40 million turnover business within five years of the June 2007 flotation on AIM.