Rieter to hive off textile machinery business - sportstextiles: Lea SportsTextiles

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Rieter to hive off textile machinery business

22/03/2011
Swiss technology provider Rieter has announced that it wants to separate its two main activities, the production of textile machinery and automotive components.

Directors will present a proposal to carry out the move at the annual general meeting on April 13, aiming for the separation to take effect one month later. The company says both divisions are now “globally structured, individually sustainable and ready to be positioned as strong and focused standalone entities on the capital markets”.

Rieter’s Textile Systems Division supplies short-staple spinning machinery and components with a broad global product offering.


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