Catch-up in textile machinery demand, Rieter says
Unaudited figures suggest short-staple fibre spinning machinery developer Rieter achieved revenues of 2.25 billion Swiss francs in 2021, which equates to €2.4 billion. It will report audited figures on March 9.
Rieter said it had wanted to give an update because it is experiencing “continuing high demand for new installations, components and services” and, at a global level, “exceptionally high order intake”.
Explaining this, it said there was a catch-up effect in demand for new textile machinery systems after two slower years and also a regional shift in demand.
Rieter believes that a major reason for this shift in demand is an increase in textile manufacturing costs in China. Its orders came primarily from Turkey, India, Latin America, Uzbekistan, China and Pakistan, it said.
