Gearbox Maker Renk Sets Itself Up to Meet Increased Demand
An employee works on an HSWL 354 transmission, part of a Leopard 2 tank, at the Renk Group AG factory in Augsburg.
Photographer: Alex Kraus/BloombergRenk Group AG is focused on growing its defense business to 90% of sales while trying to boost profits in the smaller civilian segment, Chief Executive Officer Alexander Sagel said.
Sagel’s tenure as CEO of the transmission manufacturer was just extended to March 2032. He will use that time to increase production capacity, invest in research and development, and use acquisitions to expand the company’s defense arm, which is set to grow to 90% of sales from 75%, he said in an interview Friday.