POS Plexus Holdings Plc

 

TIDMPOS 
 
 
Plexus Holdings Plc 
13 May 2010 
 
? 
 
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services 
13 May 2010 
                 Plexus Holdings plc ('Plexus' or the Company') 
           New Assembly and Test Facility Building Opening - Aberdeen 
 
Plexus Holdings plc, the AIM quoted oil and gas engineering services business 
and owner of the proprietary POS-GRIP  method of wellhead engineering, is 
pleased to announce the formal opening of its new assembly and test facility 
building today at its operational headquarters in Dyce, Aberdeen.  The new 
building has been specifically designed to allow more efficient handling, 
assembly and testing of Plexus' POS-GRIP High Pressure/ High Temperature 
('HP/HT') wellhead systems. 
 
The facility includes a 50 tonne and 25 tonne overhead crane and a test pit to 
enable the function and pressure testing of larger HP/HT and Extreme High 
Pressure/High Temperature ('X-HP/HT') wellhead and equipment assemblies and 
provides an additional 4,000 square feet of workshop area for Plexus' 
operational premises. 
 
Plexus invested GBP500,000 in the construction of the new building, which was 
assembled by a number of locally based companies in Aberdeen including 
Fitzgerald & Associates Ltd., Wright Associates and Beedie Mitchell Ltd.  The 
main building contractor selected was Andrew Cowie Construction Ltd, with 
steelwork supplied by RIM Fabrications Ltd and cranes by Morris Materials 
Handling Ltd. 
 
Plexus' specialist POS-GRIP HP/HT and X-HP/HT wellhead equipment offers a 
superior method of engineering as oil and gas exploration and production shifts 
to more unconventional operational environments in response to increasing 
demand.  The POS-GRIP technology combines various operational benefits, 
including through the Blow-out Prevention ('BOP') technology enabling the BOP to 
remain in place at all times, which result in safety improvements, installation 
time and cost savings. 
 
Plexus CEO Ben van Bilderbeek said, "We are delighted to have opened our new 
assembly and test facility today which will further strengthen our ability to 
respond to the growing demand for HP/HT exploration and production equipment and 
services.  We believe such an investment plays an important part in our future 
as an innovative technology-led business which is committed to making 
significant inroads into the global oil and gas wellhead equipment market. 
Furthermore it demonstrates our increasing confidence in our POS-GRIP technology 
as we continue to build on our reputation for delivering technical solutions to 
extreme, unconventional oil and gas exploration." 
 
                                    **ENDS** 
 
For further information please visit www.posgrip.com or contact: 
 
+---------------+------------------------+-------------------+ 
| Ben van       | Plexus Holdings PLC    | Tel: 020 7589     | 
| Bilderbeek    |                        | 8555              | 
+---------------+------------------------+-------------------+ 
| Graham        | Plexus Holdings PLC    | Tel: 020 7795     | 
| Stevens       |                        | 6890              | 
+---------------+------------------------+-------------------+ 
| Jon           | Cenkos Securities plc  | +44 (0)20 7397    | 
| Fitzpatrick   |                        | 8900              | 
+---------------+------------------------+-------------------+ 
| Ken Fleming   | Cenkos Securities plc  | +44 (0)131 220    | 
|               |                        | 6939              | 
+---------------+------------------------+-------------------+ 
| Felicity      | St Brides Media &      | Tel: 020 7236     | 
| Edwards       | Finance Ltd            | 1177              | 
+---------------+------------------------+-------------------+ 
| Isabel        | St Brides Media &      | Tel: 020 7236     | 
| Crossley      | Finance Ltd            | 1177              | 
+---------------+------------------------+-------------------+ 
 
 
 
 
 
 
 
Notes to Editors: 
 
Plexus, which began trading on AIM in December 2005, is an established oil and 
gas engineering and services business which supplies wellhead and mudline 
suspension equipment for exploration and production applications based in 
Aberdeen, with an office in London, Cairo, Kuala Lumpur and a presence in 
Houston, Texas. It has developed and patented a method of engineering for oil 
and gas field wellheads and connectors, POS-GRIP, which involves deforming one 
tubular member against another to effect gripping and sealing. 
 
POS-GRIP wellhead systems have to date been used or selected to be used in over 
140 oil and gas wells by international companies including BHP Billiton, BG 
International, Bowleven plc, BP, Brunei Shell Petroleum, Cairn Energy, Centrica, 
ConocoPhillips, Dubai Petroleum, GDF SUEZ, Global Santa Fe, Maersk, Petro-Canada 
Trinidad & Tobago, Red Sea Petroleum Operating Company, Repsol, RWE, Shell 
Egypt, StatoilHydro, Silverstone Energy, Talisman Energy, Tullow Oil, and 
Wintershall. 
 
The Company plans to accelerate the roll out of POS-GRIP technology as a 
superior alternative to current wellhead technology.  It has particular 
advantages in HP/HT (High Pressure/High Temperature) and X-HP-HT (Extreme High 
Pressure/High Temperature) oil and gas environments for which there is 
increasing demand throughout the world. The Company's long-term goal is to 
develop POS-GRIP technology as the future industry standard for wellhead design. 
This objective includes the distribution of POS-GRIP technology through 
licensees to maximise market penetration. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 NRALLFEREIIFLII 
 

Plexus (LSE:POS)
Historical Stock Chart
From Jun 2024 to Jul 2024

Plexus (LSE:POS)
Historical Stock Chart
From Jul 2023 to Jul 2024