Cylinder firm’s new chairman shapes-up

Rapid growth: Pressure Technologies chief John Hayward, with one of the company's cylinder assemblies, destined for the offshore oil industry.
Rapid growth: Pressure Technologies chief John Hayward, with one of the company's cylinder assemblies, destined for the offshore oil industry.
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High pressure cylinder and systems specialist Pressure Technologies has named Alan Wilson as its new chairman.

Mr Wilson is a Chartered Engineer and member of the Royal Institution of Naval Architects, who has extensive experience in the oil, gas and oilfield services sectors, who has held senior positions with Kvaerner Oil & Gas, The Weir Group and Trelleborg Offshore.

He takes over as the chairman of the Sheffield-based, Alternative Investment Market-listed company from Richard Shacklady.

Pressure Technologies’ chief executive, John Hayward, said: “Richard has successfully chaired the company from its AIM flotation in June 2007. We are grateful for the contribution he has made and are pleased that he has agreed to remain on the board to aid an orderly handover.”

Pressure Technologies says it has made a positive start to the year, which has been underpinned by a strong order book in its cylinders division and the completion of a project in Stockport by its Chesterfield Biogas green energy business.

The company says its Hydraton subsidiary, a leading supplier of high pressure equipment to the oil and gas industries, is expecting improved order levels in the second quarter of the year.

Its Al-Met wear parts subsidiary has seen rapid growth and has a strong order book in the current quarter.

Last month, the company announced its Chesterfield Special Cylinders subsidiary had won a £2 million contract to supply high pressure gas cylinders for the Royal Navy’s sixth Astute class nuclear submarine, HMS Agamemnon.

The latest order takes the total value of contracts which the Sheffield firm has won to supply Astute class submarines to more than £12 million.