Business
JV to supply Wellheads, Surface Xmas Tree & Valve
JV to supply Wellheads, Surface Xmas Tree & Valve.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 8343A Plexus Holdings Plc 03 June 2019 \n\n Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil Equipment & Services\n \n \n \n \nThis announcement contains inside information\n \nPlexus Holdings PLC ('Plexus' or 'the Company')\n Joint Venture for the Supply of Plexus \"HG\"™ Production Wellheads, Surface Xmas Tree and Valve Package\n \nHighlights\n· Formation of a joint venture ('JV') to enable Plexus to offer oil and gas operators a full package of extensively field proven and highly qualified Plexus surface xmas trees and valves, together with its POS-GRIP® \"HG\" production wellhead systems\n· The JV, Plexus Pressure Control Limited ('PPC'), will supply Plexus with extensively field-proven, highly qualified surface production xmas trees and wellhead annulus outlet valves\n· Plexus, via its wholly owned subsidiary Plexus Ocean Systems Limited, is partnering in the JV with BEL Valves Limited ('BEL Valves') for the supply of the high integrity valves required in surface xmas trees and wellheads\n· Plexus will be the majority shareholder of the JV and will control the IP, design and manufacture of PPC's production xmas trees and wellhead annulus valve products\n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, is pleased to announce the formation of PPC, a majority owned JV which will exclusively supply Plexus with surface production xmas trees and wellhead annulus outlet valves. Following the sale la...