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Renold confirms Halifax closure

Posted on 16 Jan 2017 and read 4067 times
Renold confirms Halifax closureAn industrial-chains supplier has confirmed plans to shut a West Yorkshire couplings facility and transfer the work to Cardiff.

As part of a group restructuring plan, Renold (www.renold.com) announced at the start of December that it was consulting on the closure of its Torque Transmission site in Halifax.

It has since announced that it “intends to implement the proposals”. The Halifax site currently employs about 42 people.

Work will now begin on the transfer of all UK couplings manufacturing and most of the associated processes to Cardiff, leading to the closure of the Halifax site and the sale of the freehold.

Renold’s results for the six months to 30 September 2016 showed a 4.5% year-on-year increase in revenues to £88.3 million, while pre-tax profits fell from £2.8 million to £2.7 million.

The business has also exchanged contracts to sell its site in Mulgrave — a suburb of Melbourne, Australia — for £7.5 million.