Newly independent textile machinery company star - sportstextiles: Lea SportsTextiles

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Newly independent textile machinery company starts trading

13/05/2011
Shares in the newly separated spinning machinery and components manufacturer Rieter began trading on the SIX Swiss Exchange on May 13. The Winterthur-based company received shareholder approval to separate its textile and automotive divisions into separate companies in April.

"This independent status and focus on their respective sectors will enhance the market opportunities and development possibilities of both businesses and enable greater transparency for investors," Rieter said in a statement.

The newly independent textile company comprises two business groups. Spun Yarn Systems develops and manufactures machinery and systems for manufacturing yarns from natural and synthetic fibres. Premium Textile Components (PTC) offers technology components and related services under strong, globally established proprietary brand names, both for spinning mills and for third-party manufacturers.

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