Renew to close pumps unit

UK infrastructure engineering services group Renew saw shares fall on Monday morning after announcing the decision to close its C&A Pumps business and saying that group trading has been 'satisfactory'.

UK infrastructure engineering services group Renew saw shares fall on Monday morning after announcing the decision to close its C&A Pumps business and saying that group trading has been 'satisfactory'.

The firm said that it has been "increasingly difficult" for the pumps unit to trade profitably following changes to the water industry framework arrangements in AMP5. C&A Pumps manufactures a large range of pumps from small cellar drainers to large flood defence pumps.

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