Shares in Pressure Technologies PLC (AIM:PRES) rose 6% after its subsidiary, Chesterfield Special Cylinders, secured a significant contract with US defence contractor General Dynamics Electric Boat.
The agreement involves the supply of safety-critical pressure vessels for submarines built for the US Navy, with delivery scheduled for the first quarter of 2026.
This marks Chesterfield's first contract with General Dynamics Electric Boat and strengthens its overseas defence order book for the financial years 2025 and 2026.
The deal also positions the company for further opportunities in the US naval defence market, where nuclear submarine construction programmes are expected to continue through to 2043.
In early trading, the stock was up 2.16p at 37.66p.