2008.04.30

Rieter is selling its machinery business and its plastic granulates production systems business to CGS Management (Pfäffikon, Switzerland), effective retroactively January 1, 2008. On last February 25 both companies signed a purchase agreement for the Rieter Automatik GmbH Division, with offices at Grossostheim, Germany, which is no longer one of Rieter’s core businesses. The contracting parties have agreed not to disclose the terms of the agreement.
Following a strategic review of the products portfolio of the Textiles Systems Division, Rieter has decided to focus on its core business, represented by machinery, technological components and services for the production of flock fibres and nonwovens, and to sell the pelletisation machinery business.
All interests in Rieter Automatik GmbH at Grossostheim, including all patents, registered trademarks, distribution channels and regional services centres are sold to CGS Management, which is also acquiring production plants in Germany, and the worldwide sales and marketing business. CGS specialises in operational optimisation of industrial groups and is therefore in an ideal position to ensure the division’s sustainable growth.