07/21/2003 - BZ Group sells Rieter Shares
The BZ Group Holding Co. Ltd. has informed Rieter that with effect from 21 July 2003, it has sold all its Rieter shares and therefore no longer has a participation in Rieter.
The Rieter shares held by the BZ Group have been acquired by various investors within the framework of a broad placement.
Rieter and a close related investment group have acquired 400,000 shares within the scope of this placement.
As previously announced on several occasions, Rieter intends to repurchase further Rieter shares on the market for an maximum 50 million Swiss Francs over a second line to be opened by the SWX Swiss Stock Exchange, valid to the date of the Annual General Meeting 2004. These shares are foreseen to be cancelled.
The Rieter Group operates internationally, developing and producing sophisticated systems solutions for the automotive and textile industries. In the 2002 financial year Rieter generated sales of 2 976 million CHF with 12 983 employees worldwide. The Textile Systems Division accounted for 1 108 million CHF and the Automotive Systems Division for 1 848 million CHF of this total.
Contact for the media:Peter Grädel
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