Renold (RNO) (GB:RNO) has released an update.
Renold PLC, an international leader in industrial chains and power transmission products, has secured a £10.6 million contract to supply flexible couplings for the Royal Canadian Navy’s Canadian Surface Combatant ships. This new deal boosts Renold’s military order book by £13.1 million and marks a continuation of their partnership with Canada, with production set to start mid-2024 at their Cardiff facility. The company’s CEO Robert Purcell expressed confidence in their Hi-Tec product range, highlighting the contract as an endorsement of their product development and engineering expertise.
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