StockMarketWire.com - Industrial chain and power product manufacturer Renold said it had won contract for the supply of flexible couplings for the second batch of the Royal Navy's Type 26 future frigate.

The contract was worth £11 million over the next eight years.

The flexible couplings were an important part of a ship's propulsion system, Renold said.

'The contract award, although in line with expectations, represents a significant extension of the company's existing Type 26 Batch 1 contact covering three ships,' it said.

'Flexible couplings for the first two ships have been delivered and manufacture of the third ship set is currently in progress.'

'Manufacture of the five shipsets of couplings in Batch 2 is due to start in 2022 following the installation by the company of a new machining centre.'

The manufacturing programme was scheduled to complete in 2029.


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