Swiss machinery firm Rieter expects H1 FY21 order intake of CHF 800 mn

13 May '21

1 min read

Pic: Rieter

Rieter, a Swiss supplier of systems for short-staple fibre spinning, has announced that in the month of April 2021, the company received orders of around CHF 300 million (Swiss currency). According to the company’s release, it anticipates that sales in the first half of 2021 will be below the break-even point and order intake of around CHF 800 million.

Rieter stated that the order intake in April was broadly based internationally with the main focus on Turkey, Uzbekistan and India. In addition to the regional development of the market, Rieter also attributes the business performance to a catch-up effect due to the low propensity to invest in 2019/2020. Rieter expects an operating profit for the full year 2021.

The Rieter board of directors has approved the implementation of the Campus project comprising a customer and technology centre as well as an administration building at the Winterthur location. Reiter said that this project will make an important contribution to the implementation of the innovation strategy and to the enhancement of its technology leadership position.

Fibre2Fashion News Desk (JL)

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