Last checked at 10 Feb 2010 14:13
RESULT OF AGM 2010
At the Annual General Meeting of Pressure Technologies plc, held today at 10.30 am, all the resolutions proposed were duly passed.
For further information, please contact:
| Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director
| Tel: 0114 242 7500 www.pressuretechnologies.co.uk |
| Rawlings Financial PR Limited Catriona Valentine Keeley Clarke
| Tel: 01653 618 016 www.rawlingsfinancial.co.uk |
| Fairfax IS PLC Nominated Adviser and Broker Simon Bennett Ewan Leggat
| Tel: 0207 598 5368 |
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 a niche 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.