For this project I started creating a pattern, using a transparent background and two black circles from the Elliptical Marquee tool and filling them with black, then selecting the circles, inverted the selection and filling out the image minus the circles with a 50% gray, then saving that image as Defined Pattern.
On a new file with a black background and another layer filled out with the same 50% gray, I added the pattern overlay of the previous created, with a 100% opacity and scaled to fit the size of the layer. Then I made the Fill opacity of that pattern 0%to make the holes appear. To the pattern layer I added some Layer Styles like texture, gradient overlay, bevel & emboss and finally made a new smart object from a copy of that layer.
On the layer below the new one, I double click the thumbnail to access the actual layer and edit it, changed the pattern to Woven Flat pattern, adjust the scale to this new pattern and saved it.  The changes were applied to the original file.
Then created a rounded rectangle tool for the detail in the center.  Once again adjusted the Layer Style by adding the same texture from the perforated background, bevel & emboss, and dropped shadow as needed.
After the rectangle was done, I created the text in the center, copied the layer styles applied to the rectangle layer, and changed some of those styles: turned off gradient overlay and added color overlay, then modify the bevel & emboss, and shadow.
Finally the details were added from another stock image, the screws on the corners, and the highlights by creating a brush from another image and applying some outside glow, colored to match the design.