Rieter hurt by US-China trade tensions - sportstextiles: Lea SportsTextiles

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Rieter hurt by US-China trade tensions

29/01/2020
Textile machinery manufacturer Rieter has reported a 29% fall in sales in its full-year figures for 2019. Its revenues were 760 million Swiss francs, according to unaudited figures the company released at the end of January. It will publish full annual statements in its annual report on March 10.

It said it also expects sales to be “significantly lower” in the first half of 2020 than they were in the same period last year.

Rieter said its results in 2019 had been affected by the trade conflict between the US and China, by political and economic uncertainties in other regions and by excess capacity in spinning mills globally.

Its sales in China itself fell by 8%, but the declines in India and Turkey were steeper, at 32% and 57% respectively.


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