At ITMA 2019, the Rieter Group signed contracts for seven projects with Cotton & Textile Industries holding company, Cairo (Egypt) for a total volume of around 180 million Swiss francs. The order intake for first six projects for amount of 165million Swiss francs was booked upon receipt of down payment on October 7; sales are expected to be realised in financial years 2020/2021.
The order includes deliveries of compact and ring spinning systems and is part of a comprehensive modernisation programme for the Egyptian textile industry, said Rieter Group in a press release.
Rieter is the world’s leading supplier of systems for short-staple fibre spinning. Based in Winterthur (Switzerland), the company develops and manufactures machinery, systems and components used to convert natural and manmade fibres and their blends into yarns. Rieter is the only supplier worldwide to cover both spinning preparation processes and all four end spinning processes currently established on the market.
Furthermore, Rieter is a leader in the field of precision winding machines. With 16 manufacturing locations in ten countries, the company employs a global workforce of some 4 740, about 20 per cent of whom are based in Switzerland.
Also Read: Rieter Group awarded large contract from Egypt at the ITMA 2019
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