Newsline-National | January 2019
Rieter acquires 25% of Electro-Jet S.L
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 has 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 EUR 25 million in 2017 and employs around 135 people. The joint development of innovative products is also planned as part of the strategic partnership.
Rieter is the world’s leading supplier of systems for short-staple fibre spinning. Based in Winterthur (Switzerland), the company develops and manufactures machinery, systems and components used to convert natural and man-made fibres and their blends into yarns. Rieter is the only supplier worldwide to cover both spinning preparation processes and all four end spinning processes currently established on the market.