Rieter Completes Real Estate Sale in Ingolstadt and Submits Building Application for Rieter CAMPUS in Winterthur
- Transaction completed in Ingolstadt
- Extraordinary profit contribution after tax of EUR 60 million expected
- Board of Directors approves submission of building application for Rieter CAMPUS in Winterthur
- Project volume of around CHF 80 million expected
Rieter completed the real estate sale in Ingolstadt (Germany) to GERCHGROUP AG of Düsseldorf (Germany) on September 13, 2019. As reported in December last year, Rieter expects an extraordinary profit contribution after tax of around EUR 60 million from this transaction.
The employees in Ingolstadt will move into a new building in the second half of 2021. Rieter will thus create a modern working environment for innovative research and development work and the respective support functions.
On September 13, 2019, the Board of Directors of Rieter Holding Ltd. has made the decisions required for the building application regarding the Rieter CAMPUS project to be submitted in good time. The Rieter CAMPUS in Winterthur will consolidate customer center, product and technology development and administration. Rieter expects to implement the project with a project volume of around CHF 80 million. Archaeological excavations and the demolition of the building “Werkhalle 40” are currently underway.
The Rieter CAMPUS will make an important contribution to the implementation of the innovation strategy and thus to the successful further development of the company. Approval of the building application is expected in spring of 2020.
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 16 manufacturing locations in ten countries, the company employs a global workforce of some 4 740, 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. This text is a translation of the original German text.