Strong Rieter figures for 2011 despite uncertainty
02/02/2012
The figures are the first reported by Rieter following the separation of the Rieter Group in May 2011. The company said it would publish final figures and its annual report on March 21, 2012.
On issuing the sales figures, the company said: “The boom in demand on the world market for textile machinery and components experienced in 2010 continued in the first quarter of 2011. The investment climate started to cool off as of the second quarter. The high cost of cotton and declining yarn prices intensified pressure on spinning mills’ margins and liquidity. The second half of the year was also dominated by uncertainty due to the trend in raw material prices and prospects for the global economy.”
Rieter also said demand for yarns declined in 2011. However, spinning mills were able to reduce yarn inventories to some extent again in the second half of the year.
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