Renold completed the acquisition of a majority stake in Ognibene for €10m.

Renold, a British manufacturer of industrial chains and related power transmission products, completed the acquisition of a majority stake in Ognibene, a multinational mobile hydraulic specialist, for €10m. The Acquisition increases the Group's access to the Italian, and wider Southern European market, allowing Renold to improve its customer service offering by accommodating local stocking of our complete chain range in Italy, which in turn will generate manufacturing synergies between Ognibene and Renold's existing international operations.