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Chin-ups are arguably the best upper body resistance exercise around. There is no other exercise that can replace its functional value; and no, the lat pull down is a not a suitable replacement. Not only do chins build the back and biceps, the abdominals, chest and grip get a workout as well.
A chin-up bar in a gym is also a highly useful fixture, given that it can also be used as an anchor for rings, bands or a TRX.
The wall Mounted Multi-Grip Chin Up Bar itself is bolted flush to the support brackets so there is no play or movement, just a solid fixture that will take any weight up to 400kg!