• Contracts signed for seven projects
• Contract comprises delivery of compact- and ring-spinning systems
• Total amounts to roughly CHF 180 million
• Order intakes are anticipated to be realized in 2019; sales posted in
the 2020/2021 financial years
Rieter Group has signed contracts with the Cotton & Textile Industries Holding
Company, Cairo (Egypt), at the ITMA 2019. These seven projects entail a total of
180 million Swiss francs. The contract comprises delivery of compact- and ring-
spinning systems over the next two years. This order is part of a comprehensive
modernization program of the Egyptian textile industry. The order intakes are
anticipated to be realized in 2019 with sales posted in the 2020/2021 financial years.
The contracts were signed at the ITMA in Barcelona, Spain, by Dr. Ahmed Moustafa
Mohamed, Chairman Cotton & Textile Industries Holding Company, and Dr. Norbert
Klapper, CEO Rieter.
Dr. Klapper was very pleased at the formal signing of contracts: “We would like to
thank our Egyptian business partners for the confidence they are placing in Rieter by
awarding us this contract. Rieter has been the partner of choice of the Egyptian
spinning industry for decades. We are delighted to be given the opportunity of
making such an important contribution to the modernization of the Egyptian textile
industry.”
About Rieter
Rieter is the world’s leading supplier of systems for short-staple fiber spinning. Based
in Winterthur (Switzerland), the company develops and manufactures machinery,
systems and components used to convert natural and manmade fibers and their
blends into yarns. Rieter is the only supplier worldwide to cover both spinning
preparation processes and all four end spinning processes currently established on
the market. Furthermore, Rieter is a leader in the field of precision winding machines.
With 16 manufacturing locations in ten countries, the company employs a global
workforce of some 5 150, about 20% of whom are based in Switzerland. Rieter is
listed on the SIX Swiss Exchange under ticker symbol RIEN. www.rieter.com
