Citing “the currently subdued business outlook for Asian spinning mills,” Switzerland-based Rieter
Group reports sales of textile machinery has declined — particularly in March and April 2008 —
following its record results posted in the fourth quarter of 2007. The company’s Textile
Systems division posted more than 50-percent fewer orders for machinery in the first four
months of 2008 compared with year-earlier orders.
Based on the expectation that there will be no significant improvement in the market over the
rest of the year, Rieter is forecasting “significantly lower” sales of textile machinery,
particularly in the second-half of 2008.
May 6, 2008
