19th Jan 2015 09:01
LONDON (Alliance News) - Pressure Technologies PLC Monday said it has bought the freehold land and buildings at Meadowhall Road, Sheffield where its Chesterfield Special Cylinders and Chesterfield Biogas subsidiaries operate for GBP3.36 million.
In a statement, the company said the amount being paid includes stamp duty of GBP160,000, and will be paid from existing debt facilities.
"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," Pressure Technologies Chairman Alan Wilson said.
Pressure Technologies shares were up 2.2% at 258.00 pence Monday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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