Renold Discusses Sale of Machine Tool Business

The Board of Renold plc announced that the company is in advanced negotiations with Venture Private Equity regarding the acquisition by VPE of business and certain assets of Renold's Holroyd machine tool business. The Board announced on June 6 that it is in separate discussions regarding the potential sale of the Group's automotive business. According to the company's press release, proceeds for both potential divestments will be used to reduce the group debt.