Armament: Conversion into an armaments group – Renk sells its slide bearing business
The gearbox manufacturer plans to focus entirely on armaments in the future. Renk has now found a buyer in Austria for one business division. Other areas are to follow.
Renk, a company listed on the MDax, has found a buyer for its sliding bearing business, a significant step towards transforming into a pure defence company. The Austrian group Miba has acquired the division, with a purchase price in the lower to mid three-digit million range. Renk aims for 90% of its revenue to come from the defence segment by 2030 and has adjusted its forecast for the current financial year, now expecting €1.4 billion in revenue and an adjusted EBIT of €240-255 million.
The company previously predicted over €1.5 billion in revenue and an adjusted EBIT of €255-285 million.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
