6th Jun 2006 15:30
Renold PLC06 June 2006 Renold plc ("Renold" or the "Group") Disposal discussions In line with the Board's strategy to focus the Group on the core activities ofthe manufacture and sale of industrial chains, gears and couplings, the Board ispleased to announce that it is in advanced discussions which may or may not leadto the disposal of the Group's Automotive business. Renold is at an advanced stage of negotiations with Schaeffler KG ("Schaeffler")whereby Schaeffler will acquire the business and certain assets of theAutomotive business, and the appropriate employee consultation process is aboutto commence. The Board of Renold will make further announcements regarding the progress ofthis potential disposal as soon as it is appropriate. For further information, please contact:Robert Davies, Chief Executive - tel: 0161 498 4500Tony Brown, Finance Director - tel: 0161 498 4500 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Renold