Renold plc (GB:RNO) has released an update.
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Renold plc, an international leader in industrial chains and power transmission products, has announced the strategic acquisition of MAC Chain, a North American chain manufacturer and distributor, for US$31.4 million. This move promises to enhance Renold’s foothold in the US and Canadian markets, especially in the forestry sector, and is expected to immediately boost the company’s earnings per share and operating margin. The acquisition, funded through existing borrowing facilities, aligns with Renold’s growth strategy and leverages a strong balance sheet to further its North American expansion.
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