![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Renold Plc | LSE:RNO | London | Ordinary Share | GB0007325078 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.80 | 1.47% | 55.40 | 55.60 | 57.60 | 56.60 | 49.20 | 54.20 | 4,638,931 | 16:35:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Engineering Services | 247.1M | 11.8M | 0.0523 | 10.63 | 123.08M |
TIDMRNO
RNS Number : 8837M
Renold PLC
17 January 2023
17 January 2023
Renold plc
("Renold", the "Company" or the "Group")
Contract Win
Renold (AIM: RNO), a leading international supplier of industrial chains and related power transmission products, is pleased to announce that Renold Couplings, part of the Company's Torque Transmission division, has been awarded a contract worth GBP8.7 million.
The award, to be delivered over the next seven years, is for the supply of flexible couplings for the Royal Australian Navy's Hunter class frigates. The flexible couplings, which are an important component of a ship's propulsion system, are part of Renold's Hi-Tec range of couplings, which are supplied worldwide for large marine and industrial projects.
The Hunter class frigates will be built by BAE Systems Australia in the Osborne Shipyard, South Australia. The contract award represents a significant extension of the Group's collaboration with BAE Systems for the supply of flexible couplings for naval vessels. Production of the couplings is expected to commence in early 2023, and will be machined on a new machining centre which was installed in Renold's Cardiff facility in 2022, specifically for naval programmes. The first manufacturing programme is scheduled to complete in 2030.
Renold CEO, Robert Purcell, commented:
"I am delighted that Renold will continue to work with BAE Systems Australia to deliver couplings for the next generation frigates. The award of the Hunter class contract is reflective of the quality of the service and product we have provided to other naval programmes and continues to underpin our belief in the Renold Hi-Tec product range.
"This excellent long-term contract will further underpin our Couplings business performance and shows the continued benefits of product development together with manufacturing and engineering excellence."
ENQUIRIES:
Renold plc IFC Advisory Limited Robert Purcell, Chief Executive Tim Metcalfe Jim Haughey, Group Finance Director Graham Herring renold@investor-focus.co.uk 0161 498 4500 020 3934 6630 Nominated Adviser and Joint Broker Joint Broker Peel Hunt LLP FinnCap Limited Mike Bell Ed Frisby (Corporate Finance) Ed Allsopp Andrew Burdis / Harriet Ward (ECM) 020 7418 8900 020 7220 0500
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 news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
CNTNKABNABKDODD
(END) Dow Jones Newswires
January 17, 2023 02:00 ET (07:00 GMT)
1 Year Renold Chart |
1 Month Renold Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions