en.Wedoany.com Reported - Plexus Holdings has signed a two-year engineering agreement with Cactus Wellhead to develop and certify a range of wellhead products for offshore energy applications.

Under the agreement, Plexus will leverage its expertise in wellhead engineering and offshore energy applications to provide engineering design, analysis, and testing services. The work will be carried out at Plexus's facility in Aberdeen and will commence immediately.

Plexus stated that it will receive an initial commitment payment of $1.34 million (£1 million), secured by the company's assets until the work under the contract is completed. The company expects to generate approximately $2 million (£1.5 million) in additional revenue during the project period based on customer demand, with potential for further increases if the scope of work expands.

Plexus CEO Craig Hendrie stated that the work was awarded to Plexus due to the company's reputation for technical excellence and decades of successful product development and certification testing. He praised the dedication and professionalism of the Plexus team, noting that leveraging Plexus's existing engineering capabilities and testing infrastructure for an international company provides the company with an opportunity to retain and build its capabilities in Aberdeen amid pressure on North Sea investments.