Textile machinery manufacturer Rieter has reported sales of 254.9 million Swiss francs (CHF) for the first half of 2020. This represents a  decline of 39% compared to the same period last year.

The Winterthur-based company said its results had been severely affected by the covid-19 pandemic. Specifically to its yarn spinning machines and other technology, it said many customers had deferred investment in new machines or postponed scheduled deliveries. At the same time, it said the demand for spare parts declined sharply owing to the suspension of production in many spinning mills around the world. 

Share this story: