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Rieter: new contracts for CHF 30 million signed in Cairo

At the Swiss-Egyptian Investment Forum on February 3, 2020 in Cairo/Egypt, the Cotton & Textiles Holding Company, Cairo/Egypt, and textile machinery manufacturer Rieter Holding AG, Winterthur/Switzerland, signed additional contracts related to the modernization program for the Egyptian textile industry.
In the presence of H.E. Hisham Tawfik, Minister of the Public Sector of the Egyptian Government, and Swiss Federal Councilor Guy Parmelin, Head of the Federal Department of Economic Affairs, Education and Research, the contracts were signed by Dr. Ahmed Moustafa, Chairman of the Cotton & Textiles Holding Company, and Dr. Norbert Klapper, CEO of Rieter.
The total volume of the contracts sums up to around CHF 210 million, including the contracts which had been signed at ITMA 2019 in Barcelona and which represent a volume of around CHF 180 million.
Rieter expects the full amount of orders to be booked as order intake in the 1st half year (H1) of 2020. So far, CHF 165 million have been booked.

Source:
dfv media group
Baldwin Joe Klein

Baldwin: new president and CEO

The manufacturer of innovative process-automation technology Baldwin Technology Company Inc., St. Louis, MO/USA, has appointed Joe Kline as its new president and CEO, effective January 17, 2020. Acting CEO Kyle Chapman will continue as Baldwin’s Chairman, and focus on BW Forsyth Partners’ rapidly expanding portfolio. In 2012, Forsyth acquired then public Baldwin and took it private.
Prior to joining Baldwin, Kline served as the president of a division in the electrical sector of power management company Eaton, Irvine, CA/USA.
Kline’s appointment follows the 2019 appointments of 4 Baldwin business segment presidents: Rich Bennett at AMS Spectral UV, Tomas Anderbjer at Baldwin Precision Applications, Vince Balistrieri at Baldwin Vision Systems, and Matt Shishikura at Baldwin Japan.

Source:
dfv media group

Teijin Aramid: Peter ter Horst appointed CEO

The high-performance fiber producer Teijin Aramid BV, Arnhem/Netherlands, has appointed Peter ter Horst as the company’s new President and CEO effective April 1, 2020. ter Horst succeeds Gert Frederiks, who will continue in an advisory role before retiring one year later.
Peter ter Horst joined Teijin Aramid in 2006 and brings relevant experience to his new role as CEO. He has held the position of Chief Financial Officer (CFO) at the company since 2011, having previously held strategy and controller positions.
Gert Frederiks and Peter ter Horst have worked closely together since the early 2010’s, focusing on cost leadership and investments in new technologies, products and capacity. As a result, Teijin recently announced production capacity increase in Delfzijl and Emmen/Netherlands, contributing to 25% targeted capacity increase from 2017 until 2022.

Source:
dfv media group