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Rieter sells sheet metal parts manufacturing facility in Ingolstadt
01
Oct '08
Rieter is to sell BO-Systems GmbH & Co. KG in Ingolstadt (Germany), a wholly-owned subsidiary of the Rieter Group, to Swiss Global Investment Group (SGIG), based in Rotkreuz (Switzerland). This sale is being made in the context of the current restructuring program.

The company in Ingolstadt manufactures sheet metal parts and modules for the spinning machinery (rotor spinning machines and drawframes) developed and produced by Rieter Textile Systems in Ingolstadt. It employs a workforce of 135 and generated sales of some 20 million euros in 2007. To cushion the effects of the cyclical textile machinery business and to better utilize the capacities, a significant proportion of BO-Systems' sales are already made to external customers.

There is still considerable potential for increasing this share of revenues at the Ingolstadt site. Since sheet metal processing is not a core activity for Rieter, the group has concluded that this company can be focused more effectively on the new strategy with additional external customers by its new owner. SGIG will take over the sheet metal parts production in Ingolstadt with the existing management and workforce and also the supply contracts with Rieter.

Swiss Global Investment Group focuses on acquiring and pursuing the further development of industrial companies engaged primarily in machinery manufacturing and systems engineering. Swiss Global Investment Group pursues a long-term holding strategy in relation to the companies it acquires and is thus ideally suited to ensuring the sustained business development of BO-Systems in Ingolstadt.

The Rieter Group operates internationally, developing and producing sophisticated systems solutions for the textile and automotive industries. Rieter generated sales of 3 930 million CHF with some 15 000 employees worldwide in the 2007 financial year. The Textile Systems Division accounted for 1 567 million CHF, the Automotive Systems Division for 2 363 million CHF of this total.

Rieter Holding Ltd

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