Rieter moves into “adjacent fields” with new acq - sportstextiles: Lea SportsTextiles

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Rieter moves into “adjacent fields” with new acquisition

03/07/2017
Textile machinery manufacturer Rieter has announced the acquisition of the SSM Textile Machinery Division (SSM) of fellow Swiss company Schweiter.

Rieter said it is paying nearly $130 million for the division, which it is financing from existing funds. SSM will become part of the Business Group Components as an independent unit. 

SSM is a leading supplier of precision winding machines for use in dyeing, weaving and sewing thread preparation. It also manufactures machinery for filament yarn production. 

Rieter explained that the deal marks a move into “adjacent fields of the textile value chain”. It added that it would continue to operate SSM in its current form and would keep its existing management team in place.

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Rieter to choose new directors in April 01/12/2015
Rieter warns of low orders but concentrates on upgrades for spinners 13/11/2015
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