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