Pressure Tech Regulatory News (PRES)

7 Oct 2009 07:00



Pre-close Trading Update

Pressure Technologies plc ("Pressure Technologies" or the "Company") today announces the following trading update for its financial year to 3 October 2009.

The Board of Directors is pleased to report that trading for the year has continued in line with market expectations. As anticipated, cash generation in the second half of the year has been strong and the year end cash balances are ahead of expectations.

The preliminary results are scheduled to be announced in the week commencing 7 December 2009.

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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.

Chesterfield BioGas, 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.