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28.05.2020

Rieter: Business Situation facing COVID-19 Pandemic

  • Since the end of March 2020, COVID-19 has led to very low demand in all Business Groups
  • Comprehensive crisis management implemented
  • Loss in the mid double-digit million range expected in the first half of 2020
  • Plans to introduce short-time working to adjust capacity in Switzerland and Germany
  • Strategy will continue to be implemented

Due to COVID-19, a large number of spinning mills have stopped production worldwide. Since the end of March 2020, this has led to low demand for spare parts and wear & tear parts and delays in testing programs during the development of new machines. Customers are postponing investment projects or unable to implement them due to restrictions imposed by national governments. This results in low demand for new machines.

  • Since the end of March 2020, COVID-19 has led to very low demand in all Business Groups
  • Comprehensive crisis management implemented
  • Loss in the mid double-digit million range expected in the first half of 2020
  • Plans to introduce short-time working to adjust capacity in Switzerland and Germany
  • Strategy will continue to be implemented

Due to COVID-19, a large number of spinning mills have stopped production worldwide. Since the end of March 2020, this has led to low demand for spare parts and wear & tear parts and delays in testing programs during the development of new machines. Customers are postponing investment projects or unable to implement them due to restrictions imposed by national governments. This results in low demand for new machines.

Comprehensive crisis management
Rieter has implemented comprehensive crisis management. Priorities are being given to protecting employees, fulfilling customer commitments and ensuring liquidity. The necessary measures to protect employees have been implemented worldwide.
The order backlog of well in excess of CHF 500 million is being processed largely according to plan, despite the existing bottlenecks in the supply chains. Less than 5% of the orders in the order backlog have been canceled.
Rieter has already implemented measures to ensure liquidity and reduce costs. The company has good net liquidity and undrawn credit lines in the mid three-digit million range.
Loss expected in the first half of 2020
As already reported, Rieter expects sales and earnings in the first half of 2020 to be significantly below the prior year level.

Loss expected in the first half of 2020
As already reported, Rieter expects sales and earnings in the first half of 2020 to be significantly below the prior year level. The effects of COVID-19 will place an additional burden on the first half of 2020. Rieter therefore expects sales in the first half of 2020 to be less than CHF 300 million. Despite the countermeasures implemented at the net profit level, this will lead to a loss in the mid double-digit million range.

Plans to introduce short-time working to adjust capacity
Rieter plans to apply for short-time working for the areas with forecasted low capacity utilization at the locations in Switzerland and Germany. The application will be for 40% short-time working in the third quarter of 2020. Talks with staff representatives will begin next week.
As a sign of solidarity, Rieter’s Board of Directors, Group Executive Committee and the senior management will waive 10%-20% of their salaries temporarily.

Implementation of the strategy
In recent years, Rieter has consistently implemented the strategy based on innovation leadership, strengthening the business in components, spare parts and services and the adjustment of cost structures. The company intends to forge ahead with the implementation of the strategy in the coming months, thus strengthening its market position for the time after the COVID-19 pandemic.
The next information on the course of business is planned with the publication of the half-year results on July 16, 2020
 

More information:
Coronavirus Rieter
Source:

Rieter Holding AG

ITM 2021
The ITM and Hightex Exhibitions are postponed
22.05.2020

ITM and HIGHTEX Exhibitions Postponed to 22-26 June 2021

ITM International Textile Machinery Exhibition and HIGHTEX International Technical Textiles and Nonwoven Exhibition, held every two years in partnership with Tüyap Tüm Fuarcılık Inc. and Teknik Fuarcılık Inc., and in cooperation with TEMSAD, were planned to be held between June 2-6 this year. However, as effects of Corona virus (Covid-19) continue to increasingly impact all the world, ITM and HIGHTEX exhibitions had been postponed to 14-18 July 2020, but it has been announced that the events have been rescheduled to 22-26 June 2021. 

ITM International Textile Machinery Exhibition and HIGHTEX International Technical Textiles and Nonwoven Exhibition, held every two years in partnership with Tüyap Tüm Fuarcılık Inc. and Teknik Fuarcılık Inc., and in cooperation with TEMSAD, were planned to be held between June 2-6 this year. However, as effects of Corona virus (Covid-19) continue to increasingly impact all the world, ITM and HIGHTEX exhibitions had been postponed to 14-18 July 2020, but it has been announced that the events have been rescheduled to 22-26 June 2021. 

Exhibitions Preparation Continue
Preparations for ITM and HIGHTEX 2021 Exhibitions continue at full steam to bring together hundreds of manufacturers and global investors who develop leading technologies in their fields. The latest technologies and new products to be displayed at ITM and HIGHTEX Exhibitions, which will open their doors in Istanbul Tuyap Fair Convention and Congress Center next year, will meet with textile investors from all over the world.
 
ITM 2018, where textile machinery leaders exhibited their latest technological products, turned into a trade show with global launches and hosted one of the largest meetings in the world, with 1150 exhibitors from 64 countries and 58.942 visitors (14.248 of them foreigners) from 94 countries.

Source:

Teknik Fuarcılık INC

Logo oerlikon
Oerlikon blickt positiv in die Zukunft
23.04.2020

Oerlikon Manmade Fibers segment looking positively towards the future during the coronavirus pandemic

Staggered in terms of timing and with varying magnitude, the global spread of coronavirus is impacting the development of the regional economies in the core markets of the Manmade Fibers segment of the Swiss Oerlikon Group.
The sales markets for manmade fiber systems and equipment have been primarily located in China, India and Turkey for many years now. Together, these markets – above all China – make up the lion’s share of the project landscape at Oerlikon Manmade Fibers. And this is paying positive dividends at the moment. Because the production facilities of the major manmade fiber manufacturers in
China have been systematically fired up again over the past few weeks, with capacity utilization increasing consistently.

Staggered in terms of timing and with varying magnitude, the global spread of coronavirus is impacting the development of the regional economies in the core markets of the Manmade Fibers segment of the Swiss Oerlikon Group.
The sales markets for manmade fiber systems and equipment have been primarily located in China, India and Turkey for many years now. Together, these markets – above all China – make up the lion’s share of the project landscape at Oerlikon Manmade Fibers. And this is paying positive dividends at the moment. Because the production facilities of the major manmade fiber manufacturers in
China have been systematically fired up again over the past few weeks, with capacity utilization increasing consistently.

Going against the flow
The Segment CEO, Georg Stausberg explains the reason: “Long before the coronavirus situation developed, the major manmade fiber manufacturers in China had decided to reverse-integrate their production chains to include petrochemicals in order to expand their portfolios with targeted investments, to reduce their dependence on a ,single product’, to optimize their costs and ultimately to acquire greater control over margins in a global volume business”.
Similar processes and decisions – albeit not on the same scale as in China – have also
been detected at the large manmade fiber manufacturers in India and Turkey. Even though businesses in India and Turkey are presently still temporarily severely impacted by the coronavirus situation, their long-term commitment cannot however be questioned, as the company-internally-agreed plans will be systematically implemented moving forward.

Long-term investments of global market players
All this has recently resulted in increased demand for spinning and texturing systems – just like those supplied by total solutions provider Oerlikon Manmade Fibers with its
Oerlikon Barmag, Oerlikon Neumag and Oerlikon Nonwoven product brands.
“The investments in petrochemical systems are based on long-term strategic considerations and are resulting – even during the coronavirus pandemic – neither in short- and medium-term economic dips, nor in changed customer behavior. (...)”, states Segment-CEO Georg Stausberg.
As a result of Oerlikon Manmade Fibers delving into the digital age years ago, the segment has experienced the intensive and short-term benefit from all the measures, in part also in its processing of customer projects.

Source:

Marketing, Corporate Communications
& Public Affairs

TU Dresden präsentiert textile 3D-gestrickte Mund-Nasen-Masken © Mirko Krziwon_ITM/TU Dresden
TU Dresden präsentiert textile 3D-gestrickte Mund-Nasen-Masken
21.04.2020

TU Dresden präsentiert textile 3D-gestrickte Mund-Nasen-Masken

  • Anforderungs- und passformgerechte textile 3D-gestrickte Mund-Nasen-Masken – Weitere Initiativen am ITM der TU Dresden

Seit dem 20. April 2020 gilt für das Bundesland Sachsen eine Maskenpflicht beim Einkaufen und im öffentlichen Personen- und Nahverkehr. Eine entsprechende Verordnung wurde hierfür am 17. April 2020 vom Freistaat Sachsen bekannt gegeben.

Aufgrund der neuerlassenen Allgemeinverfügung und der damit einhergehenden, notwendi-gen Schutzmaßnahmen zur Verringerung der Ausbreitung von COVID-19 wird das Institut für Textilmaschinen und Textile Hochleistungswerkstofftechnik (ITM) der TU Dresden nach der am 20. April 2020 erfolgten Wiederaufnahme des laborbasierten Forschungsbetriebes die bereits in der ITM-Pressemitteilung vom 31. März 2020 vorgestellte textile, 3D-gestrickte Mund-Nasen-Maske intensiv weiterentwickeln. Das ITM möchte damit einen wichtigen aktiven Beitrag zum Schutz der Gesundheit der Bevölkerung leisten.

  • Anforderungs- und passformgerechte textile 3D-gestrickte Mund-Nasen-Masken – Weitere Initiativen am ITM der TU Dresden

Seit dem 20. April 2020 gilt für das Bundesland Sachsen eine Maskenpflicht beim Einkaufen und im öffentlichen Personen- und Nahverkehr. Eine entsprechende Verordnung wurde hierfür am 17. April 2020 vom Freistaat Sachsen bekannt gegeben.

Aufgrund der neuerlassenen Allgemeinverfügung und der damit einhergehenden, notwendi-gen Schutzmaßnahmen zur Verringerung der Ausbreitung von COVID-19 wird das Institut für Textilmaschinen und Textile Hochleistungswerkstofftechnik (ITM) der TU Dresden nach der am 20. April 2020 erfolgten Wiederaufnahme des laborbasierten Forschungsbetriebes die bereits in der ITM-Pressemitteilung vom 31. März 2020 vorgestellte textile, 3D-gestrickte Mund-Nasen-Maske intensiv weiterentwickeln. Das ITM möchte damit einen wichtigen aktiven Beitrag zum Schutz der Gesundheit der Bevölkerung leisten.

Hierfür sind in den letzten Tagen die Kooperationen mit langjährigen Netzwerkpartnern des ITM wei-ter intensiviert worden. Gemeinsam mit der renommierten Textilmaschinenfirma H. Stoll AG & Co. KG aus Reutlingen ist es gelungen, mit dem am ITM erarbeiteten technologischen Know-how auf einer am ITM der TU Dresden installierten Flachstrickmaschine Stoll ADF 530-32 BW weitere Vari-anten neuartiger, textiler 3D-gestrickter Mund-Nasen-Masken erfolgreich umzusetzen.

Am ITM können somit Mund-Nasen-Masken-Varianten mit unterschiedlichsten Materialkombinatio-nen auf Flachstrickmaschinen von zwei Maschinenherstellern, die sich alle als waschbarer und damit wiederverwendbarer Mund-Nasen-Schutz eignen, anforderungs- und passformgerecht gefertigt wer-den. Je nach Materialzusammensetzung sind die Mehrwegmasken für Kochwäsche mit handelsübli-chen Waschmitteln bzw. bei 60° mit Desinfektionswaschmittel geeignet. Bei den Masken kann wahl-weise eine Tasche direkt im Fertigungsprozess integriert werden, in die temporär noch zusätzlich Fil-terstrukturen eingelegt werden können. Die gestrickten Mund-Nasen-Masken sind – intuitiv, schnell, unkompliziert in der Handhabung – auch für Brillenträger geeignet und erfordern beim Anlegen keine Hilfe einer weiteren Person. Mittels weiterer anforderungsgerechter Materialkombinationen können auch spezifische Eigenschaften, wie z. B. Atmungsaktivität, Tragekomfort und Hautverträglichkeit, ge-zielt eingestellt und diesbezüglich im Rahmen erster freiwilliger Versuchsreihen mit Mitarbeitern des ITM intensiv getestet werden.

Als eines der weltweit führenden Textilforschungsinstitute wird das ITM mit der lösungssystemati-schen Entwicklung anforderungsgerechter Mund-Nasen-Masken einen wichtigen gesellschaftlichen und nachhaltigen Beitrag für das Gemeinwohl der Bevölkerung leisten. Das Team des ITM, welches maßgeblich bei der Maskenentwicklung involviert ist, freut sich daher auf weitere Anfragen von Her-stellern und Produzenten, um mit dem erarbeiteten Fachwissen bzw. Erfahrungen und technologi-schem Know-how insbesondere die KMU der deutschen Textilindustrie beratend zu unterstützen und ggf. gemeinsame Allianzen/Kooperationen zu schmieden.

Bereits jetzt schon steht das ITM mit mehreren Industriepartnern in Kontakt, um die Technologie zur Fertigung von textilen 3D-gestrickten Masken schnell in die Serienproduktion zu überführen und dar-über hinaus diese anforderungsgerechten textilen Produkte auch zeitnah als nach den geltenden Standards bzw. Richtlinien zugelassene Schutzmasken anzubieten.

Für die zielführenden Untersuchungen mit variablen Materialkombinationen zur weiteren Op-timierung der unterschiedlichen Maskenvarianten wurden dem ITM bereits verschiedenste Versuchsmaterialien kostenfrei zur Verfügung gestellt. Das ITM bedankt sich hierfür bei folgenden Firmen: EMS-CHEMIE AG, Gebrüder Otto GmbH & Co. KG, TWD Fibres GmbH und W. Zimmermann GmbH & Co. KG.
 

Source:

Technische Universität Dresden
Institut für Textilmaschinen und Textile Hochleistungswerkstofftechnik (ITM)
 

16.04.2020

Rieter Annual General Meeting 2020

  • All motions approved
  • Dividend of CHF 4.50 agreed
  • COVID-19

In relation to participation in the Annual General Meeting on April 16, 2020, the Board of Directors of Rieter Holding Ltd. arranged exclusively written or electronic voting and the granting of power of attorney to the independent proxy. In taking this approach, the Board of Directors relied on Article 6a, lit. b of Ordinance 2 of the Swiss Federal Council (Measures to Combat the Coronavirus of March 16, 2020). Physical participation by the shareholders was therefore not possible. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 16, 2020, the independent proxy represented a total of 2 025 shareholders who hold 64.3% of the share capital.

A dividend of CHF 4.50 per share was agreed. The shareholders approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2021.

  • All motions approved
  • Dividend of CHF 4.50 agreed
  • COVID-19

In relation to participation in the Annual General Meeting on April 16, 2020, the Board of Directors of Rieter Holding Ltd. arranged exclusively written or electronic voting and the granting of power of attorney to the independent proxy. In taking this approach, the Board of Directors relied on Article 6a, lit. b of Ordinance 2 of the Swiss Federal Council (Measures to Combat the Coronavirus of March 16, 2020). Physical participation by the shareholders was therefore not possible. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 16, 2020, the independent proxy represented a total of 2 025 shareholders who hold 64.3% of the share capital.

A dividend of CHF 4.50 per share was agreed. The shareholders approved the proposed maximum total amounts of the remuneration of the members of the Board of Directors and of the Group Executive Committee for fiscal year 2021.

The Chairman of the Board, Bernhard Jucker, and the members of the Board of Directors This E. Schneider, Michael Pieper, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for an additional one-year term of office.
Furthermore, This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also each re-elected for a one-year term of office.

Shareholders also adopted all other motions proposed by the Board of Directors, namely approval of the annual report, the financial statements and the consolidated financial statements for 2019, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review. In addition, the authorized capital was extended for a further two years.

COVID-19
At present, it is not possible to predict how the global COVID-19 pandemic will affect Rieter’s sales and earnings in the first and second half of 2020, and thus also for 2020 as a whole.

Rieter therefore refrains from providing an outlook for financial year 2020 and will issue the relevant information as part of the semi-annual report on July 16, 2020.
The company has taken the necessary measures to protect employees and to meet commitments to customers as far as possible.

Thanks to long-standing customer relationships, a focus on innovation, global positioning and the company’s financial stability, Rieter will successfully overcome the challenges.

More information:
Rieter Rieter Holding Ltd.
Source:

Rieter Management AG