Aventics to sell tooth chain business to specialist Renold

The tooth chain business of the pneumatic specialists of Aventics will change ownership to Renold plc. in 2016.

Renold (RNO:LSE) is a global market leader for industrial chain manufacturing and listed on the London Stock Exchange, and is considered the perfect buyer for the business.
Due to their business focus, the new owner will be able to offer the Gronau plant better development opportunities. Aventics will focus on its core business, pneumatics.
The tooth chain product division always held a special position within Aventics and was relatively autonomous at its own location. The Gronau based  product division has a solid financial basis and is a leader in its segment. With Renold plc at their side, the tooth chain business will be able to develop their competencies even further and enter new markets. Renold plc plans to integrate the division as an additional business unit to complement their  existing product portfolio. All employment contracts will be honoured.
The Aventics tooth chain business was originally founded in 1908, while Renold enjoys a long history of over 150 years of chain manufacturing experience. The international chain specialist has manufacturing and sales sites in 23 countries, including Einbeck, Germany, approximately 40 kilometres from the Gronau plant. Like Aventics, Renold plc employs approx. 2,200 employees.