Renold wins New York metro contract

Renold, the Wythenshawe-based chain manufacturing and engineering group, has won a US$17m (£8.5m) from Mitsubishi to supply couplings and gearboxes for the New York City Metro North Transit Authority.

The company is to supply couplings and gears for the propulsion systems in a new fleet of rail cars due to be rolled out in 2009.

Bob Davies, Renold chief executive, said, "this is another significant contract win for Renold and augments our order book which at the end of June was already 32 per cent ahead of 12 months ago."

Transport is one of Renold's major markets, along with steel, energy, mining and manufacturing. The company has 15 manufacturing plants throughout the world and employs more than 3,000 staff.

Deliveries for the new contract are scheduled to start in mid-2009 and will take two years to fulfil.