Bavarian gear manufacturer Renk is reporting a record high in orders. Order intake increased by around a third to almost 1.3 billion euros.
The former Volkswagen transmission subsidiary now has orders worth 4.6 billion euros on its books. The shareholders of the company, which went public just a few weeks ago, will now receive a dividend of 30 cents per share. The company is optimistic about the future: “We can scale if we ramp up the teams and get our hands on material”