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Rieter updates progress of business groups at ITMA 2015
25
Nov '15
Rieter, a leading supplier of systems for short-staple fibre spinning, conducted “investors' day” at the recently concluded ITMA 2015 in Milan, describing the progress made by its three business groups, as per a company press release.

 Rieter provided details of the progress made in terms of innovativeness, the expansion of services, and the increase in profitability of the three groups.

Under innovations, the Machines & Systems business group displayed the new E 36/ E 86 combing set, enlarged R 66 rotor spinning machine with improved S 66 spin box, and SPIDERweb Mill Control System. Components, Rieter's another business group displayed the EliteAdvanced compacting system, the new X-Comb, and the LENA high speed spindle.

After Sales, one of the three business groups of the company, which presented its products and services for the first time, wanted Rieter customers to make optimal use of the spinning mill over the entire lifecycle through its range. The  dynamics indicated market acceptance of this range with the group aiming to grow by over 30 per cent overall in the next three years, based on sales amounting to CHF 127.5 million in 2014.

The company also described the implementation of the STEP UP programme for the purpose of achieving its mid-term targets, i.e. an operative profitability (EBIT margin) of 10 per cent in conjunction with a return on net assets (RONA) of 14 per cent.

Rieter is expecting for the whole of 2015 sales of around CHF 1 billion, operative profitability (EBIT) around 7 percent and a net profit of between 4 and 5 percent of sales. (HO)

Fibre2fashion News Desk - India

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