Order Intake for Major Project from Egypt Booked Sales expected to be realized in financial years 2020/2021
At ITMA 2019, the Rieter Group signed contracts for seven projects with Cotton &
Textile Industries Holding Company, Cairo (Egypt), for a total volume of around
180 million Swiss francs.
The order intake for the first six projects in the amount of around 165 million Swiss
francs was booked upon receipt of the down payment on October 7, 2019; sales are
expected to be realized in financial years 2020/2021. The order includes deliveries
of compact and ring spinning systems and is part of a comprehensive modernization
program for the Egyptian textile industry.
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