Pressure Technologies (GB:PRES) has released an update.
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Pressure Technologies has sold its non-core Precision Machined Components division to Raghu Vamsi Machine Tools for an initial value of £6.2 million, potentially rising to £7.7 million based on future performance. The sale will enable the company to focus on its primary Chesterfield Special Cylinders division, targeting growth in defence and hydrogen energy markets. Proceeds from the sale will be used to repay outstanding loans and invest in the company’s growth opportunities.
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