Companies: POS   

Oil and gas engineering services specialist Plexus Holdings has won a £750,000 contract with Shell Egypt.

The Aberdeen-based company – more than 70 per cent of which is owned by chief executive officer Ben van Bilderbeek, says the contract is to supply its proprietary POS-GRIP high pressure and high temperature exploration rental wellhead systems for use by Shell in the Eastern Mediterranean. Van Bilderbeek says Plexus’s rental model ‘provides an excellent opportunity’ to increase the exposure of its technology by creating ‘a shop window to showcase the POS-GRIP method of engineering’.

Floated on AIM in late 2005 at 59p, Plexus’s extremely tightly held shares hit 104p early the next year before slumping to 35.5p last May. They now stand at 65p, where they value the company at £52.1 million.

Growth Company Investor subscribers have full access to all our AIM and small-cap share recommendations. To subscribe today with a half-price offer, and gain immediate access to all the recommendations, click here.

Plexus	AIM	£32.87m	41.00p	2.00p
Click here for interactive charting
Other company articles:
Plexus advances			15/10/2008
Shell deal cheers Plexus			11/08/2008
Swedish deal cheers Plexus			08/07/2008
Plexus on expansion trail			21/04/2008
Plexus Holdings			31/10/2007