Raghu Vamsi Machine Tools to acquire PT Precision Machined Components from Pressure Technologies for £7.7m.

Raghu Vamsi Machine Tools, a manufacturer of precision engineered components, agreed to acquire PT Precision Machined Components from Pressure Technologies, a specialist engineering group, for £7.7m. "We are delighted to announce the sale of PMC to Raghu Vamsi Machine Tools and look forward to seeing the continued progress of the business under its new ownership, where plans for strategic development and growth present exciting opportunities for the combined businesses, their global customers and their employees. The completion of this strategic divestment will allow us to focus our resources on the development and growth of Chesterfield Special Cylinders in defence and hydrogen energy markets and in the provision of through-life inspection, testing and recertification services over the medium and longer term," Chris Walters, Pressure Technologies CEO.