Pressure Technologies, the niche manufacturer of seamless storage cylinders for high pressure industrial applications as well as biomethane upgrading plants, announced that it has acquired the Hydratron group of companies. Hydratron was acquired for an initial cash consideration of £2.5 million, to be followed by two deferred payments of £400,000 each in October 2011 and August 2012.

Hydratron is a UK based company that designs and manufactures a range of high pressure hydraulic equipment for the oil and gas industries. Its acquisition affords Pressure Technologies an expanded product portfolio in the oil and gas equipment market, and its manufacturing and sales infrastructure will be used to support existing areas of the business.

Pressure Technologies also issued a trading update for its financial year ended 30 September 2010, stating that it is on track to meet market expectations for the year. The company's broker is forecasting sales of £21 million, EPS of 23.8p and DPS of 7.2p per share.

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