OVERSEAS NAVAL CONTRACT WIN

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[{"type":"text","content":"\n RNS Number : 1531C Pressure Technologies PLC 08 September 2008  \n \nOVERSEAS NAVAL CONTRACT WIN\n\nPressure Technologies plc ('Pressure Technologies' or the 'Company'), the designer, manufacturer and re-tester of speciality high pressure, seamless steel gas cylinders for the global energy and defence markets, is pleased to announce that its wholly owned subsidiary, Chesterfield Special Cylinders Ltd ('CSC'), has won a long-term contract to design and supply high-pressure air cylinders for the French Navy's Barracuda submarine programme.\n \nThe order, which is expected to generate revenue of approximately £3 million over seven years commencing in 2010, was placed by DCN, the French naval submarine and ship builder. CSC will supply cylinders for back up breathing and operational systems for four boats, which are scheduled to be built over the period 2013 to 2022. DCN has an option to purchase a further two sets for delivery at a later date.\nJohn Hayward, Chief Executive of Pressure Technologies, said: 'CSC has considerable experience and skills in this sector, designing, supplying high pressure air cylinders in both the British Navy's Trident and Astute submarine fleets. This contract for the French Navy was won following lengthy commercial and technical negotiations and, using those skills, teams from both parties were able to arrive at the optimal engineering solution which satisfied all the Barracuda's operational requirements.\n\n'We believe that this contract, our second for French submarines, further enhances CSC's claim to be the world leader in the design and supply of high-pressure gas containment equipment to the naval marine sector.'\n\n \n\nFor further information, please contact:\n\nPressure Technologies plc                                                   Tel: 0114 242 7500\nJohn Hayward, Chief Executive                                       &n...

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