Depreciation costs, corporation tax and discontinued operations have led to heavy losses for Aberdeen-based Plexus Holdings.
A cash injection at a north-east precision engineering firm is expected to spark a recruitment drive over next few years.
Aberdeen-based Plexus Holdings has posted further heavy losses despite a “game-changing” deal with TechnipFMC.
Shares in Plexus Holdings sank 5.68% to 60.25p yesterday after the Aberdeen oil engineer warned of a sluggish order book recovery.
Plexus Holdings warned today its revenue for the current trading year was “running materially behind expectations”.
Opec’s landmark decision to reduce oil output from January has given industry some “much needed encouragement”, the chairman of Aberdeen-based Plexus Holdings said yesterday.
Two Aberdeen firms have designed a new riser system that can be deployed from a jack-up rig, which could help operators keep costs down on high pressure, high temperature (HPHT) well operations.
Plexus Holdings, the Aberdeen-based engineering firm, has suspended its dividend to shareholders as it reported a £3.5million loss in the second half of 2015 and reduced its headcount by 50.
Aberdeen based engineering firm Plexus created a stir in the wellhead industry this year with the launch of its mould-breaking Python technology, but it was always 2016 that the company anticipated it deploying in earnest.
Plexus Holdings has strengthened its leadership team with the appointment of a new non-executive director. Kunming Liu has joined the board with immediate effect, with the role forming part of the company's signed licence agreement with Yantai Jereh Oilfield Services. Liu has more than 18 years' experience in corporate finance and financial accounting and is the vice president of HITIC Energy.
Plexus Holdings’ boss Ben van Bilderbeek said today a record-breaking trading performance by the firm was all the more impressive against a background of woes in the oil and gas industry.
Plexus Holdings has agreed a deal to catapult its technology into the Chinese marketplace. The company, which produces its proprietary POS-GRIP® friction-grip method of wellhead engineering, has reached a collaboration agreement with China Oilfield Services Limited to explore opportunities in shallow water subsea and crossover wellhead production systems for oil and gas field activities.
Oilfield technology firm Plexus Holdings said yesterday it had struck a “transformational” deal with a Chinese partner, selling a small stake in return for access to new markets.
Aberdeen company Plexus Holdings will unveil its new subsea wellhead, developed in partnership with Python consortium partners, on September 8 during the city's Offshore Europe oil and gas show.
Energy service firms were at the heart of a flurry of takeovers yesterday, with two of the deals involving Aberdeen.