Cautiously optimistic Pressure Technologies edges towards alternative energy

SPECIALIST engineering group Pressure Technologies have said they will “take whatever measures are needed” to remain buoyant in challenging markets.

The firm is investing in the future of the group with the backing of its alternative energy division.

Pressure Technologies said that due to timings of receipts of large orders, profits will be skewed towards the second half of the year.

One of its three manufacturing businesses Precision Machined Components, focuses solely on the oil and gas market.

It is reportedly maintaining market share through cost-cutting measures, and tooling and parts remain resilient and production continues in the oil industry.

Engineered Products has taken the biggest hit from the oil and gas market downturn. It appointed a new managing director in 2015 and cut jobs to ensure further savings.

Like the Cylinders Division, the Alternative Energy Division is “encouraging” as biogas upgrader projects roll in.