;
Home / Knowledge / News / Textiles / Rieter sells sheet metal parts manufacturing facility in Ingolstadt
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


Must ReadView All

12 Asian garment firms to operate in Haiti by mid-2019

Apparel/Garments | On 13th Dec 2018

12 Asian garment firms to operate in Haiti by mid-2019

At least a dozen Asian garment manufacturing companies will start...

Pakistan evolving export-oriented policies: top official

Textiles | On 13th Dec 2018

Pakistan evolving export-oriented policies: top official

Pakistan is evolving export-oriented policies and is committed to...

No-deal Brexit would drop output, UK firms caution: survey

Textiles | On 13th Dec 2018

No-deal Brexit would drop output, UK firms caution: survey

British businesses expect a sharp drop in output if the United...

Interviews View All

Awen Delaval, Samatoa

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Vasanth Kumar, Max Fashion India

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Mario Ploner,

Mario Ploner

<div>Italian company Tecnomeccanica Biellese specialises in planning and...

Kalai Selvi,

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Georg Reinhold, Trützschler  Nonwovens & Man-Made Fibers

Georg Reinhold
Trützschler Nonwovens & Man-Made Fibers

Trützschler Nonwovens & Man-Made Fibers, a part of the Trützschler Group,...

Prof Seokheun (Sean) Choi, Binghamton University, State University of New York (SUNY)

Prof Seokheun (Sean) Choi
Binghamton University, State University of New York (SUNY)

A team of researchers from the State University of New York (SUNY),...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sidharth Sinha, Sidharth Sinha

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


December 2018

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

news category


Related Categories:

Advanced Search