Pressure Technologies plc
("Pressure Technologies" or the "Company")
Appointment of Chief Financial Officer
Pressure Technologies plc, (AIM: PRES), the specialist engineering group, is pleased to announce the appointment of Steve Hammell as Chief Financial Officer (CFO) of the Company. He will join the Company and Board in the second quarter of this calendar year.
Steve is currently CFO of Sheffield Forgemasters International Ltd, a world leader in the manufacture of ultra-heavy forgings and castings that serves a wide range of industry sectors, including UK and international defence markets.
A Chartered Accountant with 29 years' experience, Steve has held several financial leadership roles, including CFO of AIM-quoted cyber security specialist, ECSC Group plc, and Group Finance Director of international technology consultancy, eBECS Ltd.
Steve spent his early career with PwC, Yorkshire Bank and Grant Thornton, where he worked on a wide range of M&A transactions. A member of the Chartered Institute for Securities & Investment, Steve holds a first class honours degree in Economics & Management from the University of Leeds.
Further to the Company's announcement on 15 November 2022, James Locking will be stepping down as Chief Financial Officer at the end of February 2023. Recent management changes within the Company's finance function and the addition of interim finance support will help ensure the completion of ongoing projects, including the FY22 Audit, and a smooth transition.
Nick Salmon, Chair of Pressure Technologies commented:
"We are delighted that Steve will be joining the Company and Board, where his considerable knowledge and experience will contribute significantly to the development of the business.
The Board would like to thank James for his contribution and service to the business over the past four years and wishes him every success for the future."
In accordance with Schedule 2(g) of the AIM Rules for Companies, Stephen John Hammell (aged 49) is, or has been within the previous five years, a director or partner of the following companies or partnerships:
Sheffield Forgemasters International Ltd
Sheffield Forgemasters Steel Ltd
Sheffield Forgemasters Engineering Ltd
Vulcan SFM Ltd
Sheffield Forgemasters RD26 Ltd
Steel Propeller Ltd
Sheffield Forgemasters Share Trustees Ltd
Sheffield Forgemasters Inc
ECSC Group plc
ECSC Services Ltd
ECSC Labs Ltd
ECSC Australia Ltd
ECSC Australia Pty Ltd
There is no further information to be disclosed pursuant to Schedule 2(g) of the AIM Rules for Companies.
Further announcements will be made in due course.
For further information, please contact:
Pressure Technologies plc
Chris Walters, Chief Executive
Tel: 0330 015 0710
Singer Capital Markets (Nomad and Broker)
Rick Thompson / Asha Chotai
Tel: 0207 496 3000
Houston (Financial PR and Investor Relations)
Kay Larsen / Ben Robinson
Tel: 0204 529 0549
With its head office in Sheffield, the Pressure Technologies Group was founded on its leading market position as a designer and manufacturer of high-integrity, safety-critical components and systems serving global supply chains in oil and gas, defence, industrial and hydrogen energy markets.
The Group has two divisions, Chesterfield Special Cylinders and Precision Machined Components.
Chesterfield Special Cylinders (CSC) - www.chesterfieldcylinders.com
● Chesterfield Special Cylinders, Sheffield, includes CSC Deutschland GmbH.
Precision Machined Components (PMC) - www.pt-pmc.com
● Precision Machined Components includes the Al-Met, Roota Engineering and Martract sites.