The Rieter Group has completed the acquisition of a 25% stake in Electro-Jet S.L. on December 14, 2018 upon approval by the Spanish antitrust authority. On July 18, 2018, Rieter has signed a contract to acquire 25% of Electro-Jet S.L., thus strengthening the ring spinning system. The company, based in Gurb (Spain), generated annual sales of around EUR 25 million in 2017 and employs around 135 people. The joint development of innovative products is also planned as part of the strategic partnership.