Renold PLC Completion of the acquisition of Aventics TC (7872K)
January 05 2016 - 1:00AM
UK Regulatory
TIDMRNO
RNS Number : 7872K
Renold PLC
05 January 2016
Renold plc
("Renold", "the Company" or "the Group")
Completion of the acquisition of Aventics TC ("the
Acquisition")
Renold, a leading international supplier of industrial chains
and related power transmission products, announces that it has now
completed the acquisition of the business and trading assets of
Aventics Tooth Chain ("Aventics TC"), an operating division of
Aventics Gmbh, based in Germany.
Further details of the Acquisition and Aventics TC can be found
in the announcement of the conditional purchase agreement on 17
November 2015.
Robert Purcell, Chief Executive of Renold, said:
"The completion of the purchase of Aventics TC and its
specialist, high quality product range is an excellent first move
in Phase 3 of our STEP 2020 Strategic Plan (the 'Acquisitions'
Phase). We now start the work to integrate the business and to
leverage its sales over time through Renold's international
footprint.
We are pleased to welcome all of the transferring employees of
Aventics TC to the Renold Group of companies. We look forward to
working together to build the business as an important part of our
Chain division."
5 January 2016
ENQUIRIES:
Renold plc 0161 498 4500
Robert Purcell, Chief
Executive
Brian Tenner, Finance
Director
Arden Partners 020 7614 5917
Chris Hardie
Instinctif Partners 020 7457 2020
Mark Garraway
Helen Tarbet
NOTES FOR EDITORS
Renold is a global leader in the manufacture of industrial
chains and also manufactures a range of torque transmission
products which are sold throughout the world to a broad range of
original equipment manufacturers and distributors. The Company has
a well deserved reputation for quality that is recognised
worldwide. Its products are used in a wide variety of industries
including manufacturing, transportation, energy, steel and
mining.
Further information about Renold can be found on the website at:
www.renold.com
This information is provided by RNS
The company news service from the London Stock Exchange
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