Rieter: Order Intake For Major Project From Egypt Booked

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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.

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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.

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