Rieter: Order Intake For Major Project From Egypt Booked

Company Performance

Rieter: Order Intake For Major Project From Egypt Booked

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. 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.