Europe slows Renold growth
Renold, the British-based international industrial chains and power transmission manufacturer said today that the European economy was slowing its growth but this had been more than countered by expansion elsewhere.
The company reported that growth had "moderated" in Europe where ongoing economic uncertainty has resulted in sales volatility and where Swiss manufacturing output has been reduced by the strength of the Swiss franc.
However, this slowdown was more than offset by the group's sales in the rest of the world, which continued to grow and were above double digit levels in the Americas, India and South East Asia.
Growth in Renold's torque transmission business was ahead of the chain operations.
