Established in 2007 and listed on the Alternative Investment Market (AIM), the London Stock Exchange’s growth market for high potential companies, the Group expanded into specialist precision machining with acquisitions including Al-Met, Roota Engineering and Martract to form the Precision Machined Components (PMC) Division.
In 2023, the Pressure Technologies Board identified the PMC division as non-core and initiated a divestment process. The sale of the PMC division was completed in October 2024 with its sale to Raghu Vamsi, an Indian based machining specialist.
This transaction significantly strengthened the Company’s balance sheet and marked a shift in strategic focus to the development and growth of its sole trading division, Chesterfield Special Cylinders Limited.
The completion of this strategic divestment allows us to focus our resources on the development and growth of Chesterfield Special Cylinders in defence and hydrogen energy markets and in the provision of through-life inspection, testing and recertification services over the medium and longer term.