From the Sector

Reset
10 results
03.11.2023

New Swiss owners for Heberlein

Heberlein, founded in 1835, successfully completed the sale of its business on 31st of October 2023. The new joint ownership comprises the company’s management, alongside industry expert Daniel Lippuner
and the Renaissance investment foundation. From November 1, 2023, the company will operate under the name "Heberlein Technology AG".

The owners are committed to investing in the long-term success of a business that already combines traditional values with innovative power. The brand is known for its high level of expertise, as well as its tailor-made solutions for the textile business. As the world's leading supplier of jets for synthetic yarns, Heberlein develops, produces, and distributes key components for the man-made fibre industry. Around 80 employees and an efficient infrastructure in Wattwil, Switzerland, ensure that international customers can continue to rely on quality and reliability.

The Renaissance investment foundation was established by pension funds, for pension funds, and has been investing in unlisted Swiss SMEs for over 20 years.

Heberlein, founded in 1835, successfully completed the sale of its business on 31st of October 2023. The new joint ownership comprises the company’s management, alongside industry expert Daniel Lippuner
and the Renaissance investment foundation. From November 1, 2023, the company will operate under the name "Heberlein Technology AG".

The owners are committed to investing in the long-term success of a business that already combines traditional values with innovative power. The brand is known for its high level of expertise, as well as its tailor-made solutions for the textile business. As the world's leading supplier of jets for synthetic yarns, Heberlein develops, produces, and distributes key components for the man-made fibre industry. Around 80 employees and an efficient infrastructure in Wattwil, Switzerland, ensure that international customers can continue to rely on quality and reliability.

The Renaissance investment foundation was established by pension funds, for pension funds, and has been investing in unlisted Swiss SMEs for over 20 years.

Under the new ownership, the Heberlein business will continue unchanged at the current location in Wattwil with the current management and all current employees. The board of directors and management of Heberlein AG welcome this solution and are convinced that the existence of the company and its traditions will now be secured in the long term and that it will continue to develop successfully – positive news also for the business location of Toggenburg and the canton of St. Gallen.

Martin Zuercher, CEO of Heberlein, says of the transaction: "With this sale, we are opening a new, positive chapter in the company's long history. With the Renaissance investment foundation, we found an owner who is focused on long-term success. Together with the energetic management team, I look forward to continuing to make a significant contribution to Heberlein's success in the future."

Source:

Heberlein Technology AG

Marco Salvadè appointed new ACIMIT president Photo: ACIMIT
Marco Salvadè, ACIMIT president
07.07.2023

Marco Salvadè appointed new ACIMIT President

At the association’s General Assembly held on July 4th, Marco Salvadè has been appointed to replace Alessandro Zucchi as President of ACIMIT.

Marco Salvadè began his career at Salvadè Srl, the family company specializing in the finishing machinery sector, founded by his father and uncle in 1967. After being a member of the company’s board of directors, he has been President since 2021.

Following the election of Salvadè, the General Assembly expressed its gratitude to the outgoing president, Alessandro Zucchi, who has guided the association for the past six years.

At the association’s General Assembly held on July 4th, Marco Salvadè has been appointed to replace Alessandro Zucchi as President of ACIMIT.

Marco Salvadè began his career at Salvadè Srl, the family company specializing in the finishing machinery sector, founded by his father and uncle in 1967. After being a member of the company’s board of directors, he has been President since 2021.

Following the election of Salvadè, the General Assembly expressed its gratitude to the outgoing president, Alessandro Zucchi, who has guided the association for the past six years.

Along with the new president, the General Assembly also elected its new Vice Presidents, Chiara Bonino (Bonino Carding Machines SRL), Federico Businaro (Sperotto Rimar SRL), Ugo Ghilardi (Itema SpA) and Cristian Locatelli (Marzoli Machines Textile SRL). Marco Salvadè’s first comments as newly appointed ACIMIT president: “I wish to thank the Assembly for the trust they have placed in me, and I want to express my gratitude to the former President Alessandro Zucchi for everything he has done during the last six years to strengthen the role of the association and of Italian industry on the international scene. With the new vice-presidents and the ACIMIT Board, I will continue the work that has been done in recent years by previous presidents. It will certainly not be a simple task, but one that will no doubt prove stimulating. My primary goal is to increase the sense of belonging to ACIMIT of its member companies, with which we share the same values, and to adjust the association’s strategies to changing conditions in the economic and geopolitical context.”

Source:

ACIMIT

Oliver Streuli , CFO Rieter Holding AG Foto Rieter
20.06.2023

Oliver Streuli new CFO at Rieter

The Board of Directors of Rieter Holding Ltd. unanimously has appointed Oliver Streuli to the Group Executive Committee of Rieter Group as Chief Financial Officer, effective August 1, 2023.

Oliver Streuli was from June 2019 until April 2023 CEO at PCS Holding AG in Frauenfeld (Switzerland), a private institutional investment company, where he was responsible for developing the investment strategy as well as the financial and strategic supervision of the industrial portfolio companies. He was also project manager for the IPO on the SIX Swiss Exchange at Stadler Rail AG, Bussnang (Switzerland). Previously, he held different positions at UBS.

He is currently a member of the Board of Directors of Swiss Steel Holding AG, Lucerne (Switzerland), and of Autoneum Holding AG, Winterthur (Switzerland).

Oliver Streuli was a member of the Board of Directors of several industrial and financial portfolio companies of PCS Holding AG in Switzerland, in Austria and in Türkiye, which are active in fields of electric propulsion systems, green mobility and rolling stock leasing.

The Board of Directors of Rieter Holding Ltd. unanimously has appointed Oliver Streuli to the Group Executive Committee of Rieter Group as Chief Financial Officer, effective August 1, 2023.

Oliver Streuli was from June 2019 until April 2023 CEO at PCS Holding AG in Frauenfeld (Switzerland), a private institutional investment company, where he was responsible for developing the investment strategy as well as the financial and strategic supervision of the industrial portfolio companies. He was also project manager for the IPO on the SIX Swiss Exchange at Stadler Rail AG, Bussnang (Switzerland). Previously, he held different positions at UBS.

He is currently a member of the Board of Directors of Swiss Steel Holding AG, Lucerne (Switzerland), and of Autoneum Holding AG, Winterthur (Switzerland).

Oliver Streuli was a member of the Board of Directors of several industrial and financial portfolio companies of PCS Holding AG in Switzerland, in Austria and in Türkiye, which are active in fields of electric propulsion systems, green mobility and rolling stock leasing.

Oliver Streuli was born in 1988 and is a Swiss citizen. He holds a Master’s degree in Accounting and Finance from University St. Gallen (HSG),

Source:

Rieter Management AG

07.06.2023

CFO Kurt Ledermann leaves Rieter Group

Kurt Ledermann, CFO at the Rieter Group since 2019, is to leave the Group Executive Committee in August 2023 for personal reasons to pursue a career opportunity outside the Rieter Group. The Board of Directors wishes to express its gratitude to Kurt Ledermann in advance for his valuable service and his contribution to the further development of Rieter. Details about succession arrangements shall be provided in due course.

Kurt Ledermann, CFO at the Rieter Group since 2019, is to leave the Group Executive Committee in August 2023 for personal reasons to pursue a career opportunity outside the Rieter Group. The Board of Directors wishes to express its gratitude to Kurt Ledermann in advance for his valuable service and his contribution to the further development of Rieter. Details about succession arrangements shall be provided in due course.

More information:
Rieter Group
Source:

Rieter Management AG

09.03.2023

Rieter AG closes financial year 2022 with record sales

  • Sales of CHF 1 510.9 million,
  • Order intake of CHF 1 157.3 million in 2022; order backlog of around CHF 1 540 million as of December 31, 2022
  • EBIT margin of 2.1%
  • Implementation of action plan to increase profitability ongoing
  • Dividend of CHF 1.50 per share proposed

With record sales of CHF 1 510.9 million, Rieter achieved an increase of 56% compared with the previous year (2021: CHF 969.2 million). In the second half of 2022, especially in the fourth quarter, the measures introduced to address material bottlenecks had a positive impact. Consequently, sales increased to CHF 890.3 million compared with the first six months (first half-year 2022: CHF 620.6 million).

  • Sales of CHF 1 510.9 million,
  • Order intake of CHF 1 157.3 million in 2022; order backlog of around CHF 1 540 million as of December 31, 2022
  • EBIT margin of 2.1%
  • Implementation of action plan to increase profitability ongoing
  • Dividend of CHF 1.50 per share proposed

With record sales of CHF 1 510.9 million, Rieter achieved an increase of 56% compared with the previous year (2021: CHF 969.2 million). In the second half of 2022, especially in the fourth quarter, the measures introduced to address material bottlenecks had a positive impact. Consequently, sales increased to CHF 890.3 million compared with the first six months (first half-year 2022: CHF 620.6 million).

Order intake was CHF 1 157.3 million in 2022 (2021: CHF 2 225.7 million) and thus remained at a high level thanks to the company’s technological lead and broad international presence. The market situation, especially in the second half of 2022, was characterized by investment restraint and below-average capacity utilization at spinning mills due to geopolitical uncertainties, rising financing costs, and consumer reticence in important markets.
The company had an order backlog of around CHF 1 540 million at the end of 2022, which thus extends into 2023 and 2024.

The profit at the EBIT level in the 2022 financial year was CHF 32.2 million (2021: CHF 47.6 million). The result was strongly influenced by substantial cost increases, which could only be offset in part through price increases or other remedial measures. In addition, to compensate for material shortages, expenses were incurred in connection with the development of alternative solutions, and in relation to the acquired businesses.

Completion of the Acquisition
Rieter consolidated the acquired automatic winding machine business with effect from April 1, 2022. This acquisition completes Rieter’s system offering in the largest market segment of ring and compact spinning, thus significantly strengthening the company’s market position.

Action Plan to Increase Profitability
Implementation of the action plan to increase profitability is ongoing. With regard to the margins for the order backlog, which remains high, the already implemented price increases in combination with a positive trend in costs, particularly in logistics, are having a favorable impact. In addition, progress was made in eliminating material bottlenecks and reducing expenses for the three acquired businesses.

Dividend
The Board of Directors proposes to the shareholders the distribution of a dividend of CHF 1.50 per share for 2022. This corresponds to a payout ratio of 56%.

Outlook
For the coming months, Rieter expects below-average demand for new equipment at first, with a revival expected in the second half of 2023 after ITMA, the leading trade fair in Milan (Italy). Rieter also believes that demand for consumables, wear & tear and spare parts will recover during 2023.
For the 2023 financial year, due to the high order backlog, Rieter anticipates sales in the order of magnitude of the previous year.
The realization of sales from the order backlog continues to be associated with risks in connection with the ongoing geopolitical uncertainties, rising financing costs, continuing bottlenecks in the supply chains, and possible, currently unforeseeable consequences of the earthquake in Türkiye in February 2023. Despite the price increases already implemented, further global cost increases continue to pose a risk to the growth of profitability. Rieter will specify the outlook in the 2023 semi-annual report.

Source:

Rieter Holding AG

Photo: Rieter
Thomas Oetterli
25.01.2023

Rieter: Thomas Oetterli new CEO

Norbert Klapper, who has led Rieter as CEO for nine years, has informed the Board of Directors that he wishes to take on new professional challenges. Thomas Oetterli has been appointed as his successor as CEO of Rieter.

Thomas Oetterli (53) has made a significant contribution to the successful development of the world-leading Schindler Group, starting in 2006 as CEO Switzerland, later as a member of the Group Executive Committee responsible for Europe and China, and from 2016 until 2022 as CEO of the Group. With his comprehensive leadership skills and many years of industrial and international experience, Thomas Oetterli brings ideal prerequisites to lead Rieter as a global market leader through the current challenges and successfully develop it further in the long term. He will take over the function of CEO from Norbert Klapper on March 13, 2023.

Norbert Klapper, who has led Rieter as CEO for nine years, has informed the Board of Directors that he wishes to take on new professional challenges. Thomas Oetterli has been appointed as his successor as CEO of Rieter.

Thomas Oetterli (53) has made a significant contribution to the successful development of the world-leading Schindler Group, starting in 2006 as CEO Switzerland, later as a member of the Group Executive Committee responsible for Europe and China, and from 2016 until 2022 as CEO of the Group. With his comprehensive leadership skills and many years of industrial and international experience, Thomas Oetterli brings ideal prerequisites to lead Rieter as a global market leader through the current challenges and successfully develop it further in the long term. He will take over the function of CEO from Norbert Klapper on March 13, 2023.

The Board of Directors would like to thank Norbert Klapper for his many years of hard work for Rieter and his lasting contribution to the company, particularly in terms of further strengthening its technology leadership, developing the components and service business, completing the systems offering. Following his departure as CEO, he will be available to the Chairman of the Board of Directors as Senior Advisor until the end of September 2023.

In view of the current challenges Rieter is facing in the current economic and market situation, which require close cooperation between the Board of Directors and the Group Executive Committee, the Board of Directors considers a dual function of Thomas Oetterli as CEO and member of the Board of Directors to be advantageous and in the interest of all stakeholders. It will therefore propose Thomas Oetterli for election as a member of the Board of Directors at the upcoming Annual General Meeting on April 20, 2023.

Source:

Rieter Holding AG

01.12.2021

Rieter Holding AG: Change in the Board of Directors

  • This E. Schneider will not stand for re-election at the 2022 Annual General Meeting
  • Sarah Kreienbühl and Daniel Grieder proposed for election as new members of the Board of Directors

This E. Schneider has informed the Board of Directors that, after 13 years of membership, he will not stand for re-election as a member of the Board of Directors and Vice Chairman of Rieter Holding AG at the next Annual General Meeting on April 7, 2022.

The Board of Directors of Rieter Holding AG will propose Sarah Kreienbühl and Daniel Grieder for election to the Board of Directors at the Annual General Meeting on April 7, 2022.

  • This E. Schneider will not stand for re-election at the 2022 Annual General Meeting
  • Sarah Kreienbühl and Daniel Grieder proposed for election as new members of the Board of Directors

This E. Schneider has informed the Board of Directors that, after 13 years of membership, he will not stand for re-election as a member of the Board of Directors and Vice Chairman of Rieter Holding AG at the next Annual General Meeting on April 7, 2022.

The Board of Directors of Rieter Holding AG will propose Sarah Kreienbühl and Daniel Grieder for election to the Board of Directors at the Annual General Meeting on April 7, 2022.

Sarah Kreienbühl has been a member of the Executive Board of the Federation of Migros Cooperatives since 2018 and heads among other things Human Resources and Communications of the Migros Group. Before that, she spent 14 years at Sonova as Group VP Corporate Human Resources, where she was also responsible for Corporate Communications from 2012. Sarah Kreienbühl holds both the Swiss and French citizenship and graduated from the University of Zurich with a degree in psychology. With her expertise and extensive leadership experience, she will be able to make an important contribution to Rieter’s human resources policy as a member of the Board of Directors.

Daniel Grieder has been CEO of HUGO BOSS AG, based in Metzingen (Germany), since June 2021. He has been working successfully in the textile industry for more than 35 years: initially from 1985 to 2004 as an independent entrepreneur with his own sales agency, which worked for Tommy Hilfiger from 1997. He joined Tommy Hilfiger directly in 2004 and took on additional roles for PVH from 2010 to 2020. He most recently held the positions of Global CEO Tommy Hilfiger and CEO PVH Europe. Daniel Grieder is a Swiss citizen and studied at the Zurich School of Economics and Business Administration.

Source:

Rieter Holding AG

30.08.2021

Changes in the Rieter Board of Directors

  • Luc Tack und Stefaan Haspeslagh resign with immediate effect

The two members of the Board of Directors Luc Tack und Stefaan Haspeslagh announced on August 30, 2021, that they are resigning from the Board of Directors with immediate effect.

Rieter will inform the law enforcement authorities that there is no interest in continuing the criminal proceedings any further.

The Board of Directors welcomes the fact that a joint solution was found that is in the best interests of Rieter and Picanol, both of which are among the world’s leading textile machinery manufacturers.

According to Luc Tack, the Picanol Group (Belgium) will remain a shareholder of Rieter.

 

  • Luc Tack und Stefaan Haspeslagh resign with immediate effect

The two members of the Board of Directors Luc Tack und Stefaan Haspeslagh announced on August 30, 2021, that they are resigning from the Board of Directors with immediate effect.

Rieter will inform the law enforcement authorities that there is no interest in continuing the criminal proceedings any further.

The Board of Directors welcomes the fact that a joint solution was found that is in the best interests of Rieter and Picanol, both of which are among the world’s leading textile machinery manufacturers.

According to Luc Tack, the Picanol Group (Belgium) will remain a shareholder of Rieter.

 

Source:

Rieter Management AG

16.08.2021

Rieter Board of Directors: Dismissals and Criminal Complaint

As the Rieter Holding Ltd. Announced, during the course of the acquisition of three Saurer businesses’, it came to serious violations of the statutory duty of loyalty, the obligation to maintain business secrets and the Rieter Code of Conduct by two members of the Board of Directors. They are said to have misused information internal to the Board of Directors in order to compete with Rieter through an offer of their own.

The Board of Directors considers this to be a strong violation of Rieter’s interests, to the detriment of all of its stakeholders, and a sustained breach of the relationship of trust within the Board of Directors which makes further cooperation impossible.

Therefore, the Board of Directors of Rieter Holding Ltd. intends to convene an Extraordinary General Meeting to dismiss these members. Furthermore, to protect Rieter’s interests, the Board of Directors will file a criminal complaint against them.

As the Rieter Holding Ltd. Announced, during the course of the acquisition of three Saurer businesses’, it came to serious violations of the statutory duty of loyalty, the obligation to maintain business secrets and the Rieter Code of Conduct by two members of the Board of Directors. They are said to have misused information internal to the Board of Directors in order to compete with Rieter through an offer of their own.

The Board of Directors considers this to be a strong violation of Rieter’s interests, to the detriment of all of its stakeholders, and a sustained breach of the relationship of trust within the Board of Directors which makes further cooperation impossible.

Therefore, the Board of Directors of Rieter Holding Ltd. intends to convene an Extraordinary General Meeting to dismiss these members. Furthermore, to protect Rieter’s interests, the Board of Directors will file a criminal complaint against them.

Source:

Rieter Holding AG

15.07.2021

Rieter: First half of 2021

  • Order intake of CHF 975.3 million (first half of 2020: CHF 250.7 million).
  • Sales of CHF 400.5 million (first half of 2020: CHF 254.9 million).
  • EBIT of CHF 9.0 million and net profit of CHF 5.3 million

The first half of 2021 has been characterized by a strong market recovery in combination with a regional shift in demand for new machinery and systems. Rieter anticipates a normalization of the demand for new systems in the coming months. The company assumes that spinning mills will continue to work at high-capacity levels.

For the full year, Rieter expects sales to be above CHF 900 million.

The realization of sales from the order backlog continues to be associated with risks in light of bottlenecks in material deliveries and freight capacities as well as the ongoing pandemic in key markets for Rieter.

In recent years, Rieter has implemented its strategy based on the cornerstones of innovation leadership, strengthening the components, spare parts and services businesses, and adjusting cost structures.

  • Order intake of CHF 975.3 million (first half of 2020: CHF 250.7 million).
  • Sales of CHF 400.5 million (first half of 2020: CHF 254.9 million).
  • EBIT of CHF 9.0 million and net profit of CHF 5.3 million

The first half of 2021 has been characterized by a strong market recovery in combination with a regional shift in demand for new machinery and systems. Rieter anticipates a normalization of the demand for new systems in the coming months. The company assumes that spinning mills will continue to work at high-capacity levels.

For the full year, Rieter expects sales to be above CHF 900 million.

The realization of sales from the order backlog continues to be associated with risks in light of bottlenecks in material deliveries and freight capacities as well as the ongoing pandemic in key markets for Rieter.

In recent years, Rieter has implemented its strategy based on the cornerstones of innovation leadership, strengthening the components, spare parts and services businesses, and adjusting cost structures.

Crisis management in the pandemic year of 2020 was aimed at protecting employees, fulfilling customer commitments, ensuring liquidity, and also strengthening the market position for the time after the pandemic as well as retaining the ability to benefit from the incipient market recovery.

The focus for 2021 remains on the implementation of this strategy. The measures for crisis management relating to the protection of employees and fulfilling customer commitments are still in effect in countries that continue to be affected by the pandemic.

The Rieter Board of Directors has approved the implementation of the CAMPUS project. The Rieter CAMPUS comprises a customer and technology center as well as an administration building at the Winterthur location. It will make an important contribution to the implementation of the innovation strategy and to the enhancement of Rieter’s technology leadership position.

Source:

Rieter