Textile Technology section
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.
dfv media group