PUNT OF THE WEEK

WHAT IS IT?

PRESSURE Technologies operates through two main divisions. Chesterfield Special Cylinders (CSC) manufactures large, high-pressure cylinders used in submarines and aircraft, while Precision Machined Components makes specialist items for the oil and gas industry.

WHAT’S THE LATEST?

It suffered during the downturn in the oil and gas industry, but looks well poised for a recovery. Loss-making division Greenlane Biogas is being sold.

WHO BACKS IT?

The biggest investors include asset managers Gresham House, Artemis and Schroders. Former chief executive John Hayward also owns about 5pc.

WHY INVEST?

Graham Bird, managing director of Gresham House, says a shake-up at CSC has improved the business. He adds: ‘It now largely serves the defence sector supporting long-term programmes, providing a degree of resilience.’

WHY YOU SHOULDN’T

Pressure Technologies is exposed to sectors which cycle through good and bad times.

Bird notes that there is always the risk that the firm’s change in strategy could flop.