Renold recovers and pushes on with ERP plan
1 min read
Renold, the world's second largest supplier of industrial chains said today that half of the income it lost during the recession had now been recovered with a two year cost cutting programme having been capped with a French manufacturing facility being transferred to the UK.
Reporting a near 20% growth in sales, chief executive Robert Davies said Renold's objectives had been about recovery followed by growth with a key part of its programme being the implementation of a global ERP which will go live across most of its European businesses over the next 12 months.
The majority of the year's growth had been in the company's chain business where many of the restructuring projects undertaken during the recession were focused. Looking ahead, Davies said the recovery of the metals manufacture and machine tools market were both important to its torque transmission operations and they offered "exciting opportunities in 2011/12".
Innovations in the business included lubrication free chains, which contribute to lower maintenance costs and a cleaner environment. Reynold's engineers used state of the art 3D design technology connected to a global engineering system which was being linked to the new ERP system.
