30 jobs on the line at Halifax manufacturer
INDUSTRIAL chain supplier Renold, which announced first half profits had halved to £2.7m recently is to close its torque transmission site in West Yorkshire with the loss of at least 30 jobs.
The company has also sold its Australian site for £7.5m and announced plans to close its torque transmission site in West Yorkshire.
The jobs will go at the Halifax facility with listed Renold confirming plans to move its couplings business to Cardiff.
“It is with regret that the company confirms that it intends to implement the proposals,” a statement said.
“Work will now begin to enable the transfer of all UK Couplings manufacturing and most associated processes into Cardiff and a corresponding winding down of activities at the Halifax site leading to its eventual closure and the sale of the freehold site.
“The transfer of activity should be largely complete by the end of the financial year (March 31).”
In 2013 staff went on strike after a pay freeze from Renold. Around 30 Unite members at the site downed tools for 24 hours in protest.
Meanwhile, the company said it has exchanged contracts for the sale of its site in Mulgrave, a suburb of Melbourne, Australia to Makhmalbaf Pty Ltd for a consideration of A$12.5m (£7.5m), net of expenses and a contracted economic market rent for the next three years.
The Mulgrave property is currently partially utilised as the group’s Australian head office and manufacturing site with almost 50% of the plot unoccupied.
Following the sale, the Renold will work to secure a smaller alternate site to which it will transfer operations.
