Home / Knowledge / News / Textiles / Rieter to focus on development of machines in Germany
Rieter to focus on development of machines in Germany
02
Oct '17
Courtesy: Rieter
Courtesy: Rieter
Rieter, a leading supplier of systems for short-staple fibre spinning, will focus on the development of machines and provision of technical support for the after sales business in Ingolstadt, Germany. Rieter has agreed with the Works Council at the Ingolstadt location on a package of measures for employees affected by the planned reduction in the workforce.

The offers submitted by Rieter to some 220 employees include termination contracts or a switch to a transfer company. "To prepare the employees for the requirements of the job market, consultancy and mediation services as well as qualification measures are essential components of the transfer company," the company said in a press release.

Production will be transferred to Rieter’s Usti site in the Czech Republic.

Once the measures are complete, a cost reduction of over CHF 15 million is expected from 2019. For 2017, Rieter anticipates a negative impact on earnings of CHF 36 million. This includes provisions for restructuring costs of CHF 30 million and a one-time impairment of CHF 6 million. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Moments of EPA signing in Tokyo. Courtesy: Twitter handle of Jean-Claude Juncker

Textiles | On 18th Jul 2018

EU and Japan sign Economic Partnership Agreement

European Union and Japan have signed an Economic Partnership...

Courtesy: Tego

Apparel/Garments | On 18th Jul 2018

Tego plans to expand product range in 2018-19

Tego, a company that creates premium athletic gear for modern...

Courtesy: rawpixel.com from Pexels

Textiles | On 18th Jul 2018

Hike in import duty on textile-apparel by India beneficial

The Indian Government’s decision to raise import duty on textile and...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search