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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

Rieter: order intake +7% for 2019

The textile machinery manufacturer Rieter Holding AG, Winterthur/Switzerland, achieved an order intake of CHF 926 million in the 2019 financial year, 7% higher than in the prior year period. Total sales reached CHF 760 million, 29% down on the previous year.
The Business Group (BG) Machines & Systems posted an order intake of CHF 563 million, an increase of 20% compared to the previous year. This is primarily due to the 4th quarter (Q4) of 2019, in which an order intake of CHF 307 million was booked. This figure includes orders from Cotton & Textile Industries Holding Co., Cairo/Egypt, for the delivery of compact and ring spinning systems in the amount of around CHF 165 million.
In the BG Components, order intake went down by 15% to CHF 222 million compared to the previous year. Due to weaker macroeconomic conditions, order intake in Q4/2019 was CHF 49 million, lower than in the previous quarters.
With an order intake of CHF 141 million, the BG After Sales recorded a year-on-year increase of 1%. Q4/ 2019, in contrast, with an order intake of CHF 45.5 million, was significantly higher than the previous quarters, which is largely attributable to the installation services for the Cotton & Textile Industries Holding Co. project.

Source:
dfv media group