Rieter: Order Intake For Major Project From Egypt Booked

0
707

Sales expected to be realised in financial years 2020/2021

At ITMA 2019, the Rieter Group signed contracts for seven projects with Cotton & Textile Industries Holding Company, Cairo (Egypt), for a total volume of around 180 million Swiss francs.

Also Read  LENA and CROCOdoff – The Perfect Match For Efficient Spinning

The order intake for the first six projects in the amount of around 165 million Swiss francs was booked upon receipt of the down payment on October 7, 2019; sales are expected to be realised in financial years 2020/2021. The order includes deliveries of compact and ring spinning systems and is part of a comprehensive modernisation programme for the Egyptian textile industry.

Also Read  Rieter Acquires Schlafhorst, Accotex and Temco from Saurer

LEAVE A REPLY

Please enter your comment!
Please enter your name here