Aventics is to sell its tooth chain business to Renold plc.
The change of ownership will be formalised in 2016 and Aventics said it was convinced by Renold’s strategic and sustainable solutions for the Gronau, Germany plant. The new owner will offer the plant better development opportunities, Aventics said.
The Aventics tooth chain business was originally founded in 1908. It always occupied a special position within the company and was relatively autonomous at its own location. The tooth chain conveyors manufactured at the Gronau site are used in the glass container industry in particular.
Aventics said: “With Renold at its side, the tooth chain business will be able to develop its competencies even further and enter new markets. Renold plans to integrate the division as an additional business unit to complement its existing product portfolio. All employment contracts will be honoured.”
Aventics will focus on its core business, pneumatics.