Director/PDMR Shareholding

RNS Number : 8619P

Pressure Technologies PLC

23 July 2010

 



Pressure Technologies plc (the "Company")

Director/PDMR Shareholding

The Company was notified that today, Philip Simon Cammerman, a Non-Executive Director of the Company, purchased 10,743 ordinary shares of 5p each in the Company ('Ordinary Shares') at a price of 138.5p for his pension fund.  

As a result of this transaction, Philip Cammerman is now interested in 24,395 Ordinary Shares representing 0.22% of the issued share capital of the Company. 

For further information, please contact:

Pressure Technologies plc John Hayward, Chief Executive James Lister, Group Finance Director	Tel: [phone] www.pressuretechnologies.co.uk
Fairfax IS PLC Katy Birkin	Tel: [phone]
Rawlings Financial PR Limited Catriona Valentine	Tel: [phone] www.rawlingsfinancial.co.uk

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.

 

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