Renold plc and L. G. Balakrishnan & Bros LGB)
Renold plc and L. G. Balakrishnan & Bros (LGB) are pleased to announce the formation of a new Joint Venture company, Renold Chain India Pvt Ltd ("Renold India"), with effect from 12 September, 2008.
Renold India has acquired the assets and ongoing business activities of LGB's Industrial Chains Division (ICD). All key personnel associated with ICD have transferred to Renold India, and the new company will retain the Rolon brand name for all the industrial chain products formerly manufactured by LGB.
Renold plc is headquartered in the UK, and has been a leading global supplier of all types of industrial chain since it invented the bush roller chain in 1880. With 14 manufacturing locations around the world and sales representation in over 90 countries, this acquisition represents a further significant milestone in the Group's history. LGB has been manufacturing high quality chains for over 50 years, with equal dedication to excellence in product quality and customer service.
Renold India is therefore uniquely positioned to offer global experience and local expertise to meet the demands of the Indian market for technically superior products at competitive prices. In addition to the current range of high quality market leading chains produced by LGB, we will be adding a broad range of chain and power transmission products from the global operations of Renold Group that have not previously been available on the Indian market.
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