Rieter Sells Real Estate in Ingolstadt
- Sale of real estate to GERCHGROUP AG
- Completion of the transaction in the third quarter of 2019
- Extraordinary profit contribution of around 60 million euros expected
Rieter sells its real estate in Ingolstadt (Germany) to GERCHGROUP AG of Düsseldorf (Germany). The respective purchase agreement was notarized today. As a result of the sale, the Rieter Group anticipates an extraordinary profit contribution after taxes of around 60 million euros in 2019. Rieter expects to close the transaction in the third quarter of 2019.
The employees remaining in Ingolstadt will move into a new building in the second half of 2021. Rieter thus creates a modern working environment for innovative research and development work and the respective support functions.
Rieter is the world’s leading supplier of systems for short-staple fiber spinning. Based in Winterthur (Switzerland), the company develops and manufactures machinery, systems and components used to convert natural and manmade fibers 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 17 manufacturing locations in ten countries, the company employs a global workforce of some 5 250, about 20% of whom are based in Switzerland. Rieter is listed on the SIX Swiss Exchange under ticker symbol RIEN. www.rieter.com
All statements in this report which do not refer to historical facts are forecasts which offer no guarantee whatsoever with respect to future performance; they embody risks and uncertainties which include – but are not confined to – future global economic conditions, exchange rates, legal provisions, market conditions, activities by competitors and other factors which are outside the company’s control.