Improved Banking Facilities

7 Feb 2007 11:54

Renold PLC07 February 2007 7 February 2007 RENOLD plc Improved Banking Facilities Renold plc is pleased to announce that it has agreed a new syndicated bankfacility led by the Royal Bank of Scotland plc with Fortis Bank S.A./N.V. as aparticipant. This new facility is significantly larger and materially lessexpensive than the facilities which it replaces. It will provide a platform forthe Group to accelerate its strategic development. The Group's other bankingfacilities, outside the UK, remain largely unchanged. The programme for Profit and Cash Enhancement (PACE), which will improve marginsand establish the Group's manufacturing footprint going forward, is developingto plan. This will be presented to shareholders on 8th March 2007. -Ends- For further information please contact: Renold plcBob Davies, Chief Executive 0161 498 4500Peter Bream, Finance Director Weber Shandwick Financial 020 7067 0700Terry Garrett/ Stephanie Badjonat This information is provided by RNS The company news service from the London Stock Exchange