Member Article

Sheffield’s Pressure Technologies acquires £3.36 million property assets

Sheffield-based engineering firm Pressure Technologies plc has announced that it has completed the acquisition of the freehold land and buildings at Meadowhall Road, Sheffield for £3.36 million.

The company’s subsidiary, Chesterfield Special Cylinders has been operating on the site since July 2005 and Chesterfield Biogas is also based there.

The company has paid £3.36 million for the Property, inclusive of £160k stamp duty which is funded from the company’s exisiting debt facilities.

Alan Wilson, chairman of Pressure Technologies, commented: “We are delighted to have concluded the acquisition of the Property, which will result in cost savings as well as providing long-term operational certainty and flexibility for Chesterfield Special Cylinders and Chesterfield BioGas.”

This was posted in Bdaily's Members' News section by Clare Burnett .