History & Milestones
The Annual General Meeting held on April 13 brought about a historic change of direction: shareholders approved a proposal by the Board of Directors to break up the Rieter Group and for its two divisions – Textile Systems and Automotive Systems – to continue in business as independent, separately listed companies. The automotive component supply business has been traded on the SIX Swiss Exchange under the name of Autoneum since May 13.
In June, Rieter sold its Italian Automotive subsidiary Idea Institute to the industrial investor Quantum Kapital AG, St. Gall, in order to concentrate even stronger on core activities.
The shareholders of Rieter elected Michael Pieper, This. E. Schneider, Hans-Peter Schwald and Peter Spuhler as new members of the Board of Directors at the Annual General Meeting held on April 29,2009.
In August 2009, the Board of Directors of Rieter Holding Ltd. elected Erwin Stoller as Executive Chairman. With this new organization, Rieter's Board of Directors is assuming greater responsibility at the operating level and thus shortens the decision-making process. The CEO function was cancelled.
Rieter sold the pelletizing business of its subsidiary in Grossostheim (D) called Rieter Automatik GmbH to the Swiss-based CGS Management. In the textile sector Rieter sets the future focus on its core business with staple fiber and nonwovens production machinery, technology components and service offerings.
Start of the first phase increasing the manufacturing capacities of Rieter Textile Systems in India: expansion of manufacturing plant Wing near Pune (Maharashtra).
Rieter sold its subsidiary in Valance, Rieter Textile Machinery France SAS, with the ply twisting, doubling and texturing machinery business units to the French company Co-Martin.
The business of machinery and systems for manufacturing manmade continous filament yarns owned by Rieter Machine Works Ltd. in Winterthur was sold to the German company Bavaria Maschinenfabrik GmbH.
Rieter is acquiring a 100% interest in the Indian automotive supplier Rieter Automotive India (formerly called Unikeller India).
Rieter is increasing its holding in the Spanish automotive component supplier Rieter Saifa to 100%.
Rieter Holding Ltd. acquired the entire share capital of Hogra Holding AG, the parent company of the Graf Group, on October 3, 2005. This will further augment Rieter Textile Systems' leading role as one of the world's largest suppliers of technology components in the staple fiber machinery sector.
Rieter Automotive France S.A. opens new research and administrative center in Aubergenville/France.
Rieter in joint venture with Nittoku for the production of automotive components in China.
Rieter increases holding in Spanish automotive supplier Saifa-Keller S. A.
Hartmut Reuter becomes Chief Executive Officer (CEO) of the Rieter Group with effect from
Rieter now holds 100 percent of Idea Institute.
Acquisition of three units of the Suessen Group, Germany (developer of spinning technology and manufacturer of key components for spinning machinery).
Acquisition of two ICBT units in Valence, France (nonwoven machinery and yarn processing machinery).
Rieter takes majority interest in Idea Institute in Turin, Italy (automobile design and engineering).
Joint-venture with Magee in Bloomsburg (Pennsylvania), USA (car carpets).
Acquisition of Ello in Sao Bernardo do Campo, Brazil (components for motor vehicles).
Acquisition of Fimit S.p.A. in Turin, Italy (components for motor vehicles).
Acquisition of Globe Industries, Inc., in Chicago, USA (components for motor vehicles).
Unikeller Division is renamed Rieter Automotive Systems.
Acquisition of Elitex in Usti nad Orlici, Czech Republic (rotor spinning machines).
Acquisition of Firth Furnishings Ltd. in Heckmondwike, U.K. (car carpets).
Acquisition of Automatik-Apparate-Maschinenbau GmbH in Grossostheim, Germany (synthetic fiber and pelletizing machinery).
Acquisition of Schubert & Salzer GmbH in Ingolstadt, Germany (rotor spinning machines).
Foundation of Rieter Holding Ltd., quotation on the Zurich stock exchange.
Acquisition of Unikeller AG, Switzerland (noise control and thermal insulation systems for the automotive industry).
Acquisition of Ernest Scragg & Sons Ltd. in Langley, UK (texturing machinery).
Foundation of plant in Coimbatore, India.
American subsidiary founded in Arlington.
Rieter man-made fiber machines.
Rieter focuses on spinning machinery.
Benno Rieter (1870–1925) becomes general manager as the last representative of the family in management.
Rieter becomes a public limited company.
Rieter Töss: 1000 employees.
Machine works established on the convent site.
Rieter is the first Swiss industrial company to build a workers' housing estate.
Heinrich Rieter (1814–1889), grandson of Johann Jacob and later colonel and senator, takes over the business.
First Rieter card.
Diversification phase; in addition to spinning machinery, production of transmissions, turbines, machine tools, generators, motors, railways, trams, rifles, bridges, looms, embroidery machines, doubling and winding machines, etc.
Purchase of the Dominican convent (founded 1240 a.c.) in Töss, a village near Winterthur.
Transition from trading to manufacturing, investments in and foundation of spinning mills.
Heinrich Rieter (1788–1851), son of the founder, joins the company.
Johann Jacob Rieter (1762–1826) opens his first trading establishment for foreign spices and cotton in Winterthur, thus laying the foundation for the future company.