Press Release: Resolute implementation of RENK Group strategic realignment with sale of slide bearings business to Miba AG
Resolute implementation of RENK Group strategic realignment
with sale of slide bearings business to Miba AG
-- RENK underscores sector strategy announced in late
2025 with this transaction
-- Transaction has no impact on Marine & Industry's
civil business
Augsburg, October 22, 2026 -- RENK Group AG, a leading
provider of propulsion solutions for the military
and civilian sectors, is to sell its slide bearings
business to Miba AG. Miba is an Austrian industrial
and technology company that operates worldwide. Its
slide bearings business, Miba Bearing Group, specializes
in developing and producing slide bearing technologies
for industrial applications and slide bearing.
Systematic focus on core defense business
"We are realizing our sector strategy as announced
with the sale of the slide bearings business, by placing
an even sharper strategic focus on the defense business,"
said CEO of RENK Group AG Dr. Alexander Sagel. "I
am also delighted to have found exactly the right
partner for the technologically strong slide bearings
business in Miba, in order to develop Slide Bearings
with the appropriate sector focus," Sagel continued.
"In terms of expertise, Miba and RENK's slide bearings
business are an excellent match. Through the sale,
we aim to pool and strengthen our expertise," underscores
F. Peter Mitterbauer, CEO of Miba AG. "We will be
in an even better position to offer our customers
unique slide bearing technologies for the energy transition
and electrification, for example, for feeding wind
and solar power into power grids, supplying data centers
with power for artificial intelligence, for electric
motors, or for clean and secure naval gear systems."
The RENK Group plans to increase the share of defense
business in the company's total revenue to around
90 percent by 2030. The sale of the Slide Bearings
business enables the company to focus capital and
capacities even more strongly on the growth markets
for defense solutions on land and at sea. The transaction
has no impact on the civilian business within the
Marine & Industry (M&I) division. This business is
tightly integrated with defense in terms of production
and, at the same time, offers attractive growth prospects
in the areas of power generation and infrastructure.
The products manufactured by the Slide Bearings division
comprise standardized slide bearings for electric
motors, generators and pumps, and are used primarily
in industrial and civilian markets. The slide bearings
business is located at the Hanover site and has been
operated as an independent company named RENK Bearings
GmbH since October 2025.
As a result of the sale, the Slide Bearings business
unit will be reported as a discontinued operation
in accordance with IFRS 5 beginning in the fourth
quarter of 2026. The RENK Group will therefore report
its guidance in the future exclusively on the basis
of continuing operations. These include the Vehicle
Mobility Solutions (VMS) and M&I divisions. This results
in the following updated guidance for the fiscal year
2026 for revenue of EUR1.4 billion and for adjusted
EBIT from EUR240 million to EUR255 million.
The parties have agreed to keep the purchase price
confidential. The transaction is subject to the customary
regulatory approvals.
About the RENK Group AG
Headquartered in Augsburg, Germany, RENK Group AG
is a globally leading manufacturer of mission-critical
propulsion solutions across diverse military and civil
end markets. Our product portfolio includes gear units,
transmissions, power-packs, hybrid propulsion systems,
suspension systems, slide bearings, couplings & clutches
and test systems. With this broad product portfolio
RENK Group AG serves, in particular, customers in
industries for military vehicles, naval, civil marine,
and industrial applications focused on energy. In
the fiscal year 2025, RENK Group AG generated revenue
of approximately EUR 1.4 billion. RENK Group AG has
been listed on the Frankfurt Stock Exchange since
February 7, 2024, and has been a member of the MDAX
since March 24, 2025.
For further information, please visit www.renk.com
About Miba AG
Miba AG is one of Austria's leading industrial and
technology companies. It is represented in all important
customer markets worldwide with 30 production sites
in Europe, Asia, and North and South America, and
has around 7,400 employees. Miba develops and produces
functionally critical components along the entire
energy value chain. Its products make an important
contribution to the efficient and sustainable generation,
transmission, storage, and use of energy. Miba bearings,
powder metal parts, friction materials, power electronics
components, and coatings are used around the world
in applications like wind power turbines and hydropower
plants, power grids, vehicles, ships, aircraft, and
agricultural and construction machinery. Miba's revenue
in fiscal year 2025/26 amounted to more than EUR1.2
billion The company generated 62 percent of its revenue
in the industrial goods sector and 38 percent in the
automotive segment.
For more information, please visit www.miba.com.
Disclaimer
This Press Release contains forward-looking statements
that are based on plans, expectations, estimates and
projections of the management of RENK Group as at
the date of this Press Release. These plans, expectations,
estimates and projections depend on a variety of assumptions
and are subject to unforeseeable events, uncertainties,
known and unknown risks as well as other factors that
may cause actual results or the actual financial situation,
development or performance to differ from those expressed
or implied in the forward-looking statements. RENK
Group does not assume any obligation to update the
forward-looking statements or make adjustments to
them to reflect events or developments occurring after
the date of this Press Release unless obliged by statutory
law.
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RENK Group AG Media Inquiries to: Investor Inquiries to:
Gögginger Str. 73 Fabian Klee Team Investor Relations
D-86159 Augsburg Chief Communications and Marketing Officer investors@renk.com
Deutschland fabian.klee@renk.com
www.renk.com +49 160 7154 647
About the RENK Group AG Headquartered in Augsburg, Germany, RENK Group AG is a globally leading manufacturer of mission-critical
propulsion solutions across diverse military and civil end markets. Our product portfolio includes gear units, transmissions,
power-packs, hybrid propulsion systems, suspension systems, slide bearings, couplings & clutches and test systems. With this broad
product portfolio RENK Group AG serves, in particular, customers in industries for military vehicles, naval, civil marine, and
industrial applications focused on energy. In the fiscal year 2025, RENK Group AG generated revenue of approximately EUR 1.4
billion. RENK Group AG has been listed on the Frankfurt Stock Exchange since February 7, 2024, and has been a member of the MDAX
since March 24, 2025. For further information, please visit www.renk.com Disclaimer This Press Release contains forward-looking
statements that are based on plans, expectations, estimates and projections of the management of RENK Group as at the date of this
Press Release. These plans, expectations, estimates and projections depend on a variety of assumptions and are subject to
unforeseeable events, uncertainties, known and unknown risks as well as other factors that may cause actual results or the actual
financial situation, development or performance to differ from those expressed or implied in the forward-looking statements. RENK
Group does not assume any obligation to update the forward-looking statements or make adjustments to them to reflect events or
developments occurring after the date of this Press Release unless obliged by statutory law.
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(END) Dow Jones Newswires
October 21, 2026 19:50 ET (23:50 GMT)
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