PressureTechnologies - Defence Contract Placement
28/01/2025 07:00
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RNS Number : 8659U Pressure Technologies PLC 28 January 2025
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28 January 2025
Pressure Technologies plc
("Pressure Technologies" or "the Group")
Defence Contract Placement
Pressure Technologies plc (AIM: PRES), the specialist engineering group, is
pleased to announce that Chesterfield Special Cylinders ("CSC"), its wholly
owned subsidiary, has been awarded a strategically significant contract to
supply safety-critical pressure vessels to the US defence prime contractor,
General Dynamics Electric Boat ("GDEB"), the company responsible for the
design, construction and lifecycle support of submarines for the US Navy.
The contract award covers supplier qualification and the delivery of pressure
vessels to GDEB in the first quarter of 2026, underpinning overseas defence
order book development for CSC in FY25 and FY26.
This is the first contract placed by GDEB with CSC and provides a foundation
for future growth and development in the US naval defence market, where
ongoing nuclear submarine new construction programmes are planned to run
through to 2043.
Chris Walters, Chief Executive of Pressure Technologies, commented:
"I am delighted to confirm the first contract award for Chesterfield Special
Cylinders to deliver safety-critical pressure vessels to US prime defence
contractor, General Dynamics Electric Boat, the company responsible for the
design, construction and lifecycle support of submarines for the US Navy.
We are excited by this opportunity to further demonstrate the global
capabilities of Chesterfield Special Cylinders in the defence sector and as a
basis to expand the supply of specialised pressure vessels to US submarine new
construction programmes over the longer term."
Additional Information
The person responsible for arranging release of this announcement on behalf of
the Company is Chris Walters, Chief Executive.
For further information, please contact:
Pressure Technologies plc Tel: 0333 015 0710
Chris Walters, Chief Executive company.secretary@pressuretechnologies.co.uk
Singer Capital Markets Tel: 0207 496 3000
(Nomad and Broker)
Rick Thompson / Asha Chotai
COMPANY DESCRIPTION
www.pressuretechnologies.com (http://www.pressuretechnologies.com/)
Pressure Technologies plc is based in Sheffield and operates through its
wholly owned subsidiary Chesterfield Special Cylinders ("CSC").
CSC is a market leading designer, manufacturer and supplier 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
(http://www.chesterfieldcylinders.com)
General Dynamics Electric Boat, established in 1899, has established standards
of excellence in the design, construction and lifecycle support of submarines
for the U.S. Navy.
For more information on General Dynamics Electric Boat, please visit
www.gdeb.com (http://www.gdeb.com/)
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