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Pressure Technologies plc completed the sale of its Precision Machined Components division on 9 October 2024. The division was sold to Raghu Vamsi Machine Tools Private Limited on terms previously announced on 27 September 2024.
| Date | 9 Oct 2024 |
| Time | 07:00:05 |
| Category | Disposals |
| ID | 4412H |
9 October 2024
Pressure Technologies plc
Completion of Sale of Precision Machined Components Division
Pressure Technologies plc (AIM: PRES), the specialist engineering group, is pleased to announce that it has completed the sale of its Precision Machined Components division to Raghu Vamsi Machine Tools Private Limited on the terms previously announced on 27 September 2024.
For further information, please contact:
|
Pressure Technologies plc Chris Walters, Chief Executive Steve Hammell, Chief Financial Officer |
Tel: 0333 015 0710 |
|
Singer Capital Markets (Nomad and Broker) Rick Thompson / Asha Chotai |
Tel: 0207 496 3000 |
COMPANY DESCRIPTIONS
Pressure Technologies plc is based in Sheffield and operates through its wholly subsidiary Chesterfield Special Cylinders ("CSC"). CSC is a market leading designer, manufacturer and provider of safety-critical, high-pressure containment products and services to a global customer base in the defence, hydrogen energy, oil & gas and industrial markets. For more information on CSC, please visit www.chesterfieldcylinders.com
Raghu Vamsi Machine Tools Private Limited ("RVMT") is part of the Raghu Vamsi Group. Founded in 2004, the company and its subsidiaries design, develop and manufacture precision engineering components and subassemblies for global customers in aerospace, defence, oil and gas, medical and industrial markets.
RVMT's capabilities include CNC machining, engineering, sheet metal fabrication, composites manufacturing, electronics and electromechanical subassemblies, welding and specialised surface coatings.
Through it operations in India and the United States of America, the company exports and supplies to various global OEMs including Halliburton, Baker Hughes, Schlumberger, Boeing, GE Aviation, Honeywell, Rolls Royce, Collins Aerospace and many more.