11 December 2017

Damen Shipyards Group has sold its 100% stake in Damen Schelde Gears to RENK

On December 8, 2017, Damen Shipyards Group (Damen) has completed the transfer of its 100% shareholding in Damen Schelde Gears (DSGears) to RENK, Germany.

Damen Shipyards Group has sold its 100% stake in Damen Schelde Gears to RENK

DSGears is a technology-driven company specializing in the provision of design, support, consultancy and problem solving for all the technical and commercial aspect of gear assemblies and other rotating equipment.

RENK, headquartered in Augsburg, ranks among the world’s foremost manufacturers of propulsion components and test systems. In tracked vehicle transmissions, slide bearings and naval gear units, RENK is undisputed world market leader. The individual strengths and the specific product expertise of DSGears will be a genuine addition to RENK’s Gears business unit.

“DSGears joined the Damen family as part of the acquisition of Royal Schelde Group back in 2000. Although part of Damen for many years, Damen had a limited contribution to the strategy of DSGears. With RENK we have found a new long-term strategic shareholder for DSGears, with many likeminded gearbox specialists. We feel that by being part of the RENK organization DSGears and its employees will receive a new impulse” says Damen CEO René H. Berkvens.

On the photos from right to left:
Emile Poot (Head of Business Development (M&A, Damen), Christian Hammel (CFO, RENK), Franz Hoppe (Head of Marine Gear Units, RENK), Johan Bos (MD, Damen Schelde Gears)

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