Augsburg, September 01, 2023 – RENK Group AG, one of the world's leading manufacturers of mission-critical propulsion technologies, has strengthened its team on the occasion of its intention to float. Effective September 16, Ingo Schachel has been appointed Head of Investor Relations, reporting directly to CFO Christian Schulz.
Ingo Schachel has more than 15 years of management experience in equity research and investor communications, most recently as Managing Director, Head of Research DACH at BNP Paribas Exane. Prior to this, Ingo Schachel was Managing Director, Head of Equity Research at Commerzbank.
Christian Schulz, CFO of RENK Group AG, said: "We are very pleased to have gained such an experienced and accomplished financial expert as Ingo Schachel for RENK's Investor Relations department. With his personal profile and professional expertise, Ingo is an excellent addition to our team.
RENK Group AG is aiming for a listing on the Prime Standard of the Frankfurt Stock Exchange this year.
About RENK Group
Headquartered in Augsburg, Germany, RENK Group is a globally leading manufacturer of mission-critical drive solutions across diverse civil and military end markets. Our product portfolio includes gear units, transmissions, power-packs, hybrid propulsion systems, suspension systems, slide bearings, couplings & clutches and test systems. RENK particularly serves customers active in industries for military vehicles, naval and civil marine, cement and plastics production, oil & gas, as well as customers in hydrogen, CCUS and industrial heat pump applications. In the fiscal year 2022, RENK generated revenue of EUR 849 million.
Disclaimer
This release contains forward-looking statements. These statements are based on the current views, expectations, assumptions, and information of the management of RENK Holding GmbH (the “Company”). Forward-looking statements should not be construed as a promise of future results and developments and involve known and unknown risks and uncertainties. Various factors could cause actual future results, performance, or events to differ materially from those described in these statements, and neither the Company nor any other person accepts any responsibility for the accuracy of the opinions expressed in this release or the underlying assumptions. The Company does not assume any obligations to update any forward-looking statements. Moreover, it should be noted that all forward-looking statements only speak as of the date of this release and that the Company assumes no obligation, except as required by law, to update any forward-looking statement or to conform any such statement to actual events or developments.
The Company expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statement contained in this release, whether as a result of new information, future developments or otherwise.
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