Board Appointment

RNS Number : 7186G

Pressure Technologies PLC

11 June 2013

 



Embargoed for release at 07.02 hours                                                                                          11 June 2013

Pressure Technologies plc

BOARD APPOINTMENT

Pressure Technologies plc (the "Company") is pleased to announce that Mr Neil MacDonald has been appointed to the Company's Board as Non-Executive Director with immediate effect.

Neil MacDonald was Group Finance Director of AES Engineering Limited, a successful, fast growing, privately owned manufacturer of mechanical seals, until September 2012, when he resigned to take up the role of Master of The Company of Cutlers in Hallamshire. Neil remains on the board of AES as a Non-Executive Director. Prior to this, he was Group Finance Director of the international aerospace company, Firth Rixson. Neil is a Chartered Accountant.

Alan Wilson, Chairman, said: "On behalf of the directors, I welcome Neil to the Board. His combined experience of fast growth in the oil and gas sector at AES and general M&A will be extremely valuable to Pressure Technologies, as the Board pursues its growth strategy."

Neil Andrew MacDonald, aged 56, regulatory information:

Current directorships:

Firth Rixon (Trustees) Limited

Sheffield Theatres Trust

Offstage Limited

A.E.S. Engineering Limited

A.E.S. Engineering Employee Trust Limited

Cruciable Enterprises Limited

The Cathedral Archer Project Limited

The Cutlers Hall Preservation Trust Limited

Whirlow Hall Farm Limited

Whirlow Hall Farm Trust Limited

Horbury Group Limited

Horbury Building Systems Limited

MWS Joinery Limited

Titan Interior Solutions Limited

Archer Catering Enterprise Limited

The City of Sheffield Theatre Trust

Mantra Medical Limited

The Master Cutler Limited

In-Tend Limited

St. Luke's Hospice

Past directorships:

None

There is no further information to be disclosed under Rule 17 or Schedule Two paragraph (g) of the AIM Rules for Companies.

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director	Today: 020 7920 3150 Therafter:  0114 242 7500 www.pressuretechnologies.co.uk
Tavistock Communications Catriona Valentine / Keeley Clarke	Tel:  [phone]
Charles Stanley Securities (Nomad and broker) Philip Davies / Carl Holmes	Tel: [phone]

Company description

Pressure Technologies is an AIM listed, leading designer and manufacturer of speciality engineering solutions for high pressure systems serving large global markets. The Group is organised into three divisions: Cylinders, Engineered Products and Alternative Energy.

Cylinders

Chesterfield Special Cylinders is a global market leader in the design and manufacture of speciality high pressure, seamless steel gas cylinders for the offshore oil and gas, defence, industrial gases and alternative energy markets and retesting and refurbishment services.

The company has unparalleled industry knowledge, gathered over the last 100 years' trading. As a trusted supplier with unrivalled expertise, Chesterfield Special Cylinders plays an integral role in the project design and engineering process, working closely with its customers on design solutions for high pressure systems.

The core activity of Chesterfield Special Cylinders is the design and manufacture of Air Pressure Vessel systems for oil rig motion compensation systems and deepwater offshore platforms. This is closely followed in importance by activity in the naval market. Chesterfield Special Cylinders provides cylinders for a wide range of applications in submarines and surface ships to a significant proportion of the world's navies.

The company's product and process knowledge has led, in recent years, to an expansion from manufacturing into value added services, making full use of expertise in the business. Chesterfield Special Cylinders has developed a number of service offerings for the inspection and revalidation of cylinders including a novel "in-situ" testing service, which is driven by a new BSI standards for the inspection of hard to reach/impossible to move gas tubes.  Chesterfield Special Cylinders is the only company capable of delivering this strict new testing regime worldwide.

More information is available on the company's website www.chesterfieldcylinders.co.uk.

Engineered Products:

This division comprises Al-Met Limited ("Al-Met") and the Hydratron group of companies ("Hydratron").

Al-Met is a niche manufacturer of specialised, precision engineered valve wear parts used in the oil and gas industries, acquired by Pressure Technologies plc in 2010. Its 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 market leading capability in precision machining carbides, high grade stainless steels and super alloys. More information is available on the company's website www.almet.co.uk.

Hydratron designs, manufactures and sells a range of air operated high pressure hydraulic pumps, gas boosters, power packs, hydraulic control panels and test rigs. The business, which was also acquired in 2010, operates out of two locations situated in the UK and USA. Hydratron also has an extensive network of distributors in key locations around the world. Formed in 1981, Hydratron has established itself as a leading supplier of quality high pressure equipment to the oil and gas industries. The full range of Hydratron products may be viewed at www.hydratron.co.uk.

Alternative Energy: 

Chesterfield BioGas Limited was founded in November 2008, following the signing of a co-operation agreement with Greenlane® Biogas Limited, the world leader in biogas upgrading, which gives Pressure Technologies exclusive rights to market and manufacture Greenlane® equipment in the UK and Eire.

Chesterfield BioGas provides turnkey solutions for the cleaning, storage and dispensing of biomethane for injection into the gas grid or use as a vehicle fuel. In 2010, Chesterfield BioGas installed the UK's first biogas upgrader supplying biomethane to the national grid at a Thames Water site in Didcot.  A second upgrader was delivered in October 2012.

For more information visit the company's website www.chesterfieldbiogas.co.uk.

 

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